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Ajwa Fun World & Resort Ltd.

BSE: 526628 Sector: Services
NSE: N.A. ISIN Code: INE863E01015
BSE 00:00 | 28 Mar 25.15 0
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NSE 05:30 | 01 Jan Ajwa Fun World & Resort Ltd
OPEN 25.15
PREVIOUS CLOSE 25.15
VOLUME 300
52-Week high 27.25
52-Week low 16.30
P/E
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 25.15
CLOSE 25.15
VOLUME 300
52-Week high 27.25
52-Week low 16.30
P/E
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ajwa Fun World & Resort Ltd. (AJWAFUNWORLD) - Auditors Report

Company auditors report

Report to the Members of AJWA FUN WORLD & RESORT LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of AJWA FUN WORLD &RESORT LIMITED which comprise the Balance Sheet as at 31 March 2017 the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the matters stated in Section 134(5) of the CompaniesAct 2013 ("the Act") with respect to the preparation of these standalonefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section 133of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibilityalso includes maintenance of adequate accounting records in accordance with the provisionsof the Act for safeguarding the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor's Responsibility

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

An audit involves performing procedures to obtain audit evidence about amounts anddisclosures in the financial statements. The procedures selected

depend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. In making thoserisk assessments the auditor considers internal control relevant to the Company'spreparation and fair presentation of the financial statements in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.

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

Opinion

In our 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 in the case of the balance sheet of the state ofaffairs of the Company as at 31 March 2017

ii. in the case of the statement of profit and loss for the year ended on that date

iii. in the case of the cash flow statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure A a statement on the matters specified in the paragraph3 and 4 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 bestof 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 theCompany so far as it appears from our examination of those books.

c. Ihe balance sheet the statement of profit and loss and the cash flow

statement dealt with by this Report are in agreement with the books of account.

d. In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

e. On the basis of the written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164 (2) of the Act.

f With respect to the matters to be included in the Auditor's Report in accordance withRule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to the bestof our information and according to the explanations given to us:

i. 1 he Company does not have any pending litigation 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 no amounts which were required to be transferred to theinvestor Education and Protection Fund by the Company.

FoKDSKHTP & ASSOCIATES
Place: Rajkot CHARTERED ACCOUNTANTS
Date 30/05/2017
CA KARTIK T. PAREKH
partner
M.NO.: 137934
FRN: 119285W

ANNEXURE - Report under the Companies (Auditor's Report) Order 2016

Referred to in of our report of even date

In terms of the information and explanations sought by us and given by the company andthe books and records examined by us in the normal course of audit and to the best of ourknowledge and belief we state that: -

1. I he company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

As explained to us all the assets have not been physically verified by the managementduring the year but there is a regular programme of verification which in our opinion isreasonable having regard to the size of the company and the nature of its assets. Nomaterial discrepancies were noticed on such verification.

According to the information and explanations given to us and the records examined byus and based on the examination of the registered sale deed / transfer deed / conveyancedeed / other evidences provided to us we report that the title deeds comprising all theimmovable properties of land and buildings which are freehold are held in the name of thecompany as at the balance sheet date.

2. As explained to us the inventory has been physically verified at reasonableintervals during the year by the management. In our opinion the frequency of verificationis reasonable. The discrepancies noticed on verification between the physical stocks andthe book records were not material. (The discrepancies have been properly dealt with inthe books of accounts).

3. As explained to us the company had granted loan to companies firms Limited Liability Partnerships or other parties covered in the register maintained under section189 of the Act.

a) The terms and conditions of the grant of such loans are not prejudicial to thecompany's interest.

b) No Schedule of repayment of principal and payment of interest has been stipulated

c) No Schedule of repayment of principal and payment of interest has been stipulatedand therefore the question of overdue amounts does not arise. Though Company has informedthat the reasonable steps have been taken for recovery of the principal and interest.

4. In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of Sections 185 and 186 of the Companies Act2013in respect of grant of loans making investments and providing guarantees andsecurities as applicable.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits in contravention of Directives issued by ReserveBank of India and the provisions of section 73 to 76 or any other relevant provisions ofthe Act and the rules framed there under where applicable . No order has been passed bythe Company Law Board or National Company Law Tribunal or Reserve Bank of India or anycourt or any other tribunal or

6. We have broadly reviewed the books of accounts and records maintained by the companypursuant to the rules prescribed under section 148(1) of the Act for maintenance of costrecords are of the opinion that prima facie the prescribed accounts and records havebeen made and maintained. However we have not made a detailed examination of records.

7. According to the information and explanations given to us in respect of statutorydues a) The company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including Provident Fund Investor Education Protection FundEmployees' state insurance income tax sales tax wealth tax service tax custom dutyexcise duty Cess and other material statutory dues applicable to it.

b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax wealth tax Service Tax sales tax custom duty exciseduty and cess were in arrears as at 31st March 2017 a period of more than sixmonths from the date they became payable.

c) Details of dues of Income Tax Sales Tax/Value Added Tax Custom Duty Excise Dutyand Cess which have not been deposited as on 31st March 2017 on account ofdisputes are given below : NA

8. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion the company has not defaulted in repayment of dues toa financial institution bank Government or dues to debenture holders.

9. The company has not raised moneys by way of initial public offer or further publicoffer (including debt instrument). However the moneys were raised by way of term loanswhich were applied for the purposes for which those were raised.

10. Based upon the audit procedures performed and according to the information andexplanations given to us no fraud by the company or any fraud on the company by itsofficers or employees has been noticed or reported during the course of our audit thatcauses the financial statements to be materially misstated.

11. The Managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act.

12. The company is not a Nidhi Company and hence reporting under clause (xii) of theCARO 2016 Order is not applicable.

13. Based upon the audit procedures performed and according to the information andexplanations given to us All transactions with related parties are in compliance withsections 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the Financial statements etc. as required by the applicable accountingstandards.

14. The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15. The company has not entered into any non-cash transactions with directors orpersons connected with him.

16. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934

FoKDSKHTP & ASSOCIATES
Place: Rajkot CHARTERED ACCOUNTANTS
Date 30/05/2017
CA KARTIK T. PAREKH
partner
M.NO.: 137934
FRN: 119285W