You are here » Home » Companies » Company Overview » Allied Herbals Ltd

Allied Herbals Ltd.

BSE: 523030 Sector: Financials
NSE: N.A. ISIN Code: INE608D01016
BSE LIVE 11:58 | 12 Sep Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 24.45
PREVIOUS CLOSE 24.45
VOLUME 1
52-Week high 38.50
52-Week low 24.45
P/E
Mkt Cap.(Rs cr) 3.84
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 24.45
CLOSE 24.45
VOLUME 1
52-Week high 38.50
52-Week low 24.45
P/E
Mkt Cap.(Rs cr) 3.84
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Allied Herbals Ltd. (ALLIEDHERBALS) - Auditors Report

Company auditors report

To

The Members

ALLIED HERBALS LIMITED

(formerly known as Rajdhani Leasing & Industries Limited)

1. Report on the Financial Statements

We have audited the accompanying financial statements of ALLIED HERBALS LIMITED(formerly known as Rajdhani Leasing & Industries Limited) which comprise the BalanceSheet as at 31st March 2015 and the Statement of Profit and Loss and Cash FlowStatement for the year then ended and a summary of significant accounting policies andother explanatory information.

2. 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 preparationof these financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the company in accordance with the Accountingprinciples generally accepted in India including Accounting Standards specified underSection 133 of the Companies Act 2013 read with rule 7 of Companies (Accounts) Rules2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of 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

3. 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.

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

4. Emphasis of Matter

We draw attention to the following matters in the Notes to the financial statements:

i. The company has not complied with the listing requirements of clause 47(a) inrespect of the appointment of Company Secretary to act as Compliance Officer of thecompany as defined in the listing agreement with Bombay Stock Exchange.

ii. The company has not complied with provisions of section 149(1) of the Companies Act2013 and the Rule 3 of Companies (Appointment and Qualification of Directors) Rules 2014in respect of appointment of women director in the company.

iii. The company has not complied with the provisions of Section 203 of the CompaniesAct 2013 and Rule 8 Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014 in respect appointment of key managerial personnel (CEO/MD/Manager CS WTDCFO) in the company.

iv. The company has not complied with provisions of section 177 of the Companies Act2013 read with Rule 6 of Companies (Meetings of Board and its Powers) Rules 2014 inrespect of constitution of Audit committee.

v. The company has not complied with the provisions of section 149 of the CompaniesAct 2013 and Rule 4 of Companies (Appointment and Qualification of Directors) Rules 2014in respect of appointment of independent director.

vi. The company has not complied with the provisions of section 138 of the CompaniesAct 2013 and the Companies (Accounts) Rules 2014 in respect of appointment of internalauditor.

Our opinion is not modified in respect of these matters.

5. 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 the manner so required and give a true andfair view in conformity with the

accounting principles generally accepted in India of the state of affairs of thecompany as at 31st March 2015 and its

"Loss" and its cash flows for the year ended on that date.

6. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act we give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the Order to theextent applicable.

2. As required by section 143(3) of the Companies Act 2013 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 purpose of our audit ;

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

c) The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby 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 written representations received from the directors as on March312015 and taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2015 from being appointed as a director in terms of section164 (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 has disclosed the impact of pending litigations on its financialposition in its financial statements -Refer Note 2(j) to the financial statements; and

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

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

For AGARWAL KAMAL KUMAR & ASSOCIATES
Chartered Accountants
Sd/-
ARUN GUPTA
(Partner)
Place : New Delhi Membership No. 511816
Date : 28.05.2015 Firm Regn No. 005931N

ANNEXURE TO THE AUDITORS' REPORT Reg: ALLIED HERBALS LIMITED (formerly known asRajdhani Leasing & Industries Limited)

(Referred to in Paragraph 6(1) of our report of even date)

1) In respect of its Fixed Assets:

(a) As per the explanation & information given to us there are no fixed assets inthe company; hence provisions of the Clause (i) of paragraph 3 of the order are notapplicable to the company.

2) In respect of its inventories:

(a) As per the explanation & information given to us there have been no any stockheld by the company; hence provisions of the Clause (ii) of paragraph 3 of the order arenot applicable to the company.

3) In respect of the loans secured or unsecured granted by the Company to companiesfirm or other parties covered in the register maintained under section 189 of theCompanies Act 2013:

(a) As per the information and explanations provided to us the company has not grantedany unsecured loan to any party during the year which is covered in the registermaintained under section 189 of the companies Act 2013. Therefore the provisions of theClause (iii)(a) (iii)(b) of paragraph 3 of the order are not applicable to the company.

4) In our opinion and according to information and explanations provided to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business with regard to expenses incurred and income earned. The activitiesof the Company do not involve the purchase and sale of goods and services. During thecourse of our audit we have not observed any continuing failure to correct majorweaknesses in the internal control system except for the matter specified in the Para 4"Emphasis on Matter" of our Main Audit Report.

5) According to information and explanations provided to us the Company has notaccepted any deposits from the public under Section 73 to 76 or any other relevantprovision of the Companies Act 2013 and the rules made there under during the year.

6) As per information and explanations given to us Company is not in the business ofmanufacturing of any products and for the same the Central Government has not prescribedthe maintenance of cost records under section 148 of the Companies Act 2013. Thereforethe provisions of the Clause (vi) of paragraph 3 of the order are not applicable to thecompany.

7) In respect of statutory dues:

(a) According to the information and explanations given to us the company is regularin depositing undisputed statutory dues including Provident Fund Employee's StateInsurance Income Tax Wealth Tax Sales tax Customs duty Excise duty service tax Cessand any other statutory dues with the appropriate authorities. However there has been anamount of Rs.10000/- in respect of Tax Deduction at source at the end of the year whichwere outstanding for a period of more than six months from the date these became payableby the company.

(b) In respect of disputed dues:

According to information and explanations provided to us details of disputed IncomeTax Dues of the Company are as follows: which were outstanding for a period of more thansix months from the date these became payable by the company.

A.Y. Nature of Dues Order Passed By Amount (Rs.) Disputed Authority
2007-08 Income Tax Penalty u/s 271(1)(c) DCIT Central Circle-9 New Delhi 85 349/- No Details available *
2009-10 Income Tax Demand DCIT Central Circle-9 New Delhi 12401610/- Hon'ble ITAT Delhi dismissed the appeal vide order dated 27.04.2015 and as per management they are in process of filing further appeal.

* Due to change of management during the previous financial years; the current statusof the demand of Rs.85349/- raised by way of penalty order u/s 271(1)(c) of the IncomeTax Act1961 is not available with the company.

(c) According to information and explanation given to us there were no amounts whichwere required to be transferred to the Investor Education and Protection Fund by theCompany in accordance with the relevant provisions of the Companies Act 1956 (1 of 1956)and rules made thereunder.

8) As per the information and the explanations given to us the company does not haveaccumulated losses at the end of the financial year for more than 50% of the net worth ofthe Company. The company has incurred cash losses during the financial year covered by theaudit for Rs.357215/- and in the immediately preceding financial year to the tune of Rs.194652/-.

9) Based on our audit procedures and according to information and explanations given tous we are of the opinion that the Company has not taken any loans from any financialinstitutions banks. Therefore the provisions of the Clause (ix) of paragraph 3 of theorder are not applicable to the company.

10) According to information and explanations provided to us the company has not givenany corporate guarantee for loan taken by others. Therefore the provisions of the Clause(x) of paragraph 3 of the order are not applicable to the company.

11) According to the information and explanations given to us the company has notraised any term loans from Banks and Financial institutions. Therefore the provisions ofthe Clause (xi) of paragraph 3 of the order are not applicable to the company.

12) In our opinion and according to information and explanations given to us nomaterial fraud on or by the company has been noticed or reported during the year

For AGARWAL KAMAL KUMAR & ASSOCIATES
Chartered Accountants
Sd/-
ARUN GUPTA
(Partner)
Place : New Delhi Membership No. 511816
Date : 28.05.2015 Firm Regn No. 005931N

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard