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Adinath Exim Resources Ltd.

BSE: 532056 Sector: Financials
NSE: N.A. ISIN Code: INE398H01015
BSE LIVE 14:20 | 08 Dec 17.50 0.55
(3.24%)
OPEN

17.70

HIGH

17.70

LOW

16.70

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 17.70
PREVIOUS CLOSE 16.95
VOLUME 371
52-Week high 19.14
52-Week low 8.74
P/E
Mkt Cap.(Rs cr) 7.17
Buy Price 16.15
Buy Qty 146.00
Sell Price 17.50
Sell Qty 390.00
OPEN 17.70
CLOSE 16.95
VOLUME 371
52-Week high 19.14
52-Week low 8.74
P/E
Mkt Cap.(Rs cr) 7.17
Buy Price 16.15
Buy Qty 146.00
Sell Price 17.50
Sell Qty 390.00

Adinath Exim Resources Ltd. (ADINATHEXIMRES) - Auditors Report

Company auditors report

To

The Members

Adinath Exim Resources Limited

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of ADINATH EXIM RESOURCESLIMITED ("the Company") which comprise the Balance Sheet as at 31stMarch 2015 the Statement of Profit and Loss the Cash Flow Statement and a summary ofthe 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 Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the preparation of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

AUDITORS’ RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and the disclosures in the financialstatements. The procedures selected depend on the auditor’s judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company’s preparation of the financial statementsthat give a true and fair view in order to design audit procedures that are appropriate inthe circumstances but not for the purpose of expressing an opinion on whether the Companyhas in place an adequate internal financial control system over financial reporting andthe operating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company’s Directors as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our qualified audit opinion on the financial statements.

OPINION

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner 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 stateof affairs of the company’s at March 312015; (b) In the case of the Profit and Lossof the profit for the year ended on that date; and (c) In the case of the Cash FlowStatement of the cash flow for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor’s Report) Order2015 ("theorder") as issued by Central Government of India in terms of sub section (11) ofsection 143 of Companies Act 2013 we give in the Annexure a statement on the mattersspecified in paragraph 3 and 4 of the order.

2. As required by Section 143 (3) of the Act we report that:

(a) In our 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 the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in termsof Section 164 (2) of the Act.

(f) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the 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 financialposition.

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. there were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For Shailesh C. Parikh & CO.
Chartered Accountants
FRN :109858W
Place : Ahmedabad (Shailesh Parikh)
Date : 11/05/2015 Proprietor
Mem. No. : 039254

ANNEXURE TO THE AUDITORS’ REPORT

The Annexure referred to in our Independent Auditors’ Report to the members of theADINATH EXIM RESOURCES LIMITED on the financial statements for the year ended 31 March2015 We report that: 1. a) The Company is maintaining proper records showing fullparticulars including quantitative details and situation of fixed assets. b) As explainedto us a substantial portion of the Fix Assets have been physically verified by themanagement during the year and no material discrepancies have been noticed on suchverification.

2. The Company does not hold any physical inventories. Hence the question ofphysical verification and proper maintenance of inventory records does not arise.

3. According to the information and explanation given to us the Company has notgranted any loans Secured or unsecured to companies firms or other parties listed in theregister maintained under section 189 of the Companies Act 2013.

4. In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to disbursement and recovery of loans under microfinance program and for purchase of fixed assets. We have not observed any major weaknessin the internal control system during the course of the audit.

5. In our opinion and according to the information and explanations given to usthe Company has not accepted any deposits during the year and consequently directivesissued by Reserve Bank of India and Provisions of section 73 to 76 or any other relevantprovision of the Companies Act and rules framed there under are not applicable to thecompany.

6. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company.

7. a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including income tax and other materialstatutory dues have been regularly deposited during the year by the Company with theappropriate authorities.

According to the information and explanations given to us no undisputed amountspayable in respect of income tax and other material statutory dues were in arrears as at31 March 2015 for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us there are no materialdues of Income tax which have not been deposited with the appropriate authorities onaccount of any dispute.

c) According to the information and explanations given to us there are no amountspayable to the investor education and protection fund in accordance with the relevantprovisions of the Companies Act 1956 (1 of 1956) and rules there under.

8. The Company does not have any accumulated losses as at the end of the financialyear and has not incurred cash losses in the financial year and in the immediatelypreceding financial year.

9. In our opinion and according to the information and the explanations given to usthe Company has not defaulted in repayment of dues to financial institution/banks duringthe year.

10. In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions which are prejudicial to the interest of the company.

11. To the best of our knowledge and belief and according to the information andexplanation given to us in our opinion the Company has not taken any term loans &other facilities so question of its proper application for the purpose for which it wastaken does not arise.

12. During the course of our examination of the books and records of the companycarried out in accordance with the auditing standards generally accepted in India we haveneither come across any instance of fraud on or by the company noticed or reported duringthe year nor have we been informed of such case by the management.

For Shailesh C. Parikh & CO.
Chartered Accountants
FRN :109858W
Place : Ahmedabad (Shailesh Parikh)
Date : 11/05/2015 Proprietor
Mem. No. : 039254

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