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Alka Diamond Industries Ltd.

BSE: 531581 Sector: Consumer
NSE: N.A. ISIN Code: INE963D01015
BSE LIVE 14:04 | 26 Oct Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 14.95
PREVIOUS CLOSE 14.95
VOLUME 100
52-Week high 16.50
52-Week low 14.95
P/E
Mkt Cap.(Rs cr) 7.27
Buy Price 0.00
Buy Qty 0.00
Sell Price 14.95
Sell Qty 100.00
OPEN 14.95
CLOSE 14.95
VOLUME 100
52-Week high 16.50
52-Week low 14.95
P/E
Mkt Cap.(Rs cr) 7.27
Buy Price 0.00
Buy Qty 0.00
Sell Price 14.95
Sell Qty 100.00

Alka Diamond Industries Ltd. (ALKADIAMONDIND) - Auditors Report

Company auditors report

To

The Members of

ALKA DIAMOND INDUSTRIES LIMITED Report on the Financial Statements

We have audited the accompanying financial statement of ALKA DIAMOND INDUSTRIES LIMITED("the company") which comprise the Balance Sheet as at 31st MARCH2015 and the statement of Profit & Loss Account and the cash flow statement of theCompany for the year then ended and a summary of significant accounting policies and otherexplanatory information.

Management's Responsibility for the Financial Statement.

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 andpresentation of these financial statements that give a true and fair view of the financialposition and financial performance of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation 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 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 thereunder.

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 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 of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of 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 of the state of affairs of the Company as at 31March 2015 and its profit and its 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 bythe Central Government of India in terms of subsection (11) of section 143 of the Act wegive in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder.

2. As required by section 143 (3) of the Act we repot 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. The balance sheet and the statement of profit and loss dealt with by this Report arein 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 31March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164 (2) of the Act; and

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 has disclosed the impact of pending litigations on its financialposition in its financial statements.

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any and as required on long-term contractsincluding derivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

FOR K.K. Jhunjhunwala & Co.
CHARTERED ACCOUNTANTS
F. R. No. 111852W
K.K. Jhunjhunwala PLACE : MUMBAI
(Partner) DATE : 31.08.2015
M. No. 045154

ANNEXURE TO THE AUDITOR'S REPORT Re: ALKA DIAMOND INDUSTRIES LIMITED.

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the year ended 31 March 2015 we report that :

(i) (a) The Company has maintained proper records showing full particulars

including quantitative details and situation of fixed assets.

(b) The Company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified in a phased manner over a period of three years. Inaccordance with this programme certain fixed assets were verified during the year and nomaterial discrepancies were noticed on such verification. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

(ii) In our opinion and according to the information and explanations given to us theCompany has not hold any inventory during the year. Therefore the provisions of Clause3(ii) of the said order are not applicable to the company.

(iii) The Company has not granted any loans secured or unsecured to companies firmsor 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 usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to purchase of fixed assets and sale of services.The activities of the Company do not involve purchase of inventory and the sale of goods.We have not observed any major weakness in the internal control system during the courseof the audit.

(v) In our opinion and according to the information and explanation given to us TheCompany has not accepted any deposits during the year and does not have any unclaimeddeposits. Therefore the provisions of the clause 3(v) of the Order are not applicable tothe Company.

(vi) The provisions of clause 3 (vi) of the Order are not applicable to the Company asthe Company is not covered by the Companies (Cost Records and Audit) Rule 2014.

(vii) (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 provident fund income taxsales tax wealth tax service tax duty of customs value added tax cess and othermaterial statutory dues have been regularly deposited during the year by the Company withthe appropriate authorities. As explained to us the Company did not have any dues onaccount of employees' state insurance and duty of excise.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax wealth tax service tax dutyof customs value added tax cess 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 wealth tax duty of customs and cess which have not been deposited with theappropriate authorities on account of any dispute.

(c) According to the information and explanations given to us the amounts which wererequired to be transferred to the investor education and protection fund in accordancewith the relevant provisions of the Companies Act 1956 (1 of 1956) and rules there underhas been transferred to such fund within time.

(viii) The Company does have accumulated losses at the end of the financial year andhas also incurred cash losses in the financial year and in the immediately precedingfinancial year.

(ix) The Company did not have any outstanding dues to financial institutions banks ordebenture holders during the year.

(x) 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.

(xi) The Company did not have any term loans outstanding during the year.

(xii) According to the information and explanations given to us no material fraud onor by the Company has been noticed or reported during the course of our audit.

FOR K.K. Jhunjhunwala & Co.
CHARTERED ACCOUNTANTS
F. R. No. 111852W
K.K. Jhunjhunwala PLACE : MUMBAI
(Partner) DATE : 31.08.2015
M. No. 045154

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