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Alpha Hi-Tech Fuel Ltd.

BSE: 531247 Sector: Others
NSE: N.A. ISIN Code: INE506B01016
BSE LIVE 15:22 | 26 Aug Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.87
PREVIOUS CLOSE 0.91
VOLUME 300
52-Week high 0.87
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0.32
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.87
Sell Qty 5871.00
OPEN 0.87
CLOSE 0.91
VOLUME 300
52-Week high 0.87
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0.32
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.87
Sell Qty 5871.00

Alpha Hi-Tech Fuel Ltd. (ALPHAHITECH) - Auditors Report

Company auditors report

To the Members of Alpha Hi-Tech Fuel Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Alpha Hi-Tech Fuel Limited("the Company")which comprise the Balance Sheet as at 31st March 2015 theStatement of Profit and Loss and the Cash Flow Statement for the year ended on 31st March2015 and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act 2013 ("the Act")with respect to the preparation ofthese 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 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 of 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 accounting recordsrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material misstatement whether due to fraud or error.

Auditors' Responsibility

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

While conducting the audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions 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 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 accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall 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.

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 31stMarch 2015 and its profit and loss 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 by the Government of India in terms of Section 143(11) 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 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) The Balance Sheet Statement of Profit and Loss and the Cash Flow Statement dealtwith 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 and taken on record by

the Board of Directors none of the directors is disqualified as on 31st March 2015from being appointed as a director in terms of 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 opinion and to the best of our information andaccording 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 to the financial statements;

ii. the Company has not entered into any long-term contracts including derivativecontracts for which there were any

material foreseeable losses as required under the applicable law or accountingstandards;

iii. there has been no delay in transferring the amounts required to be transferredto the Investor Education and

Protection Fund by the Company.

Mumbai; 28th May 2015 for M/s. K.U. Kothari & Co.
Chartered Accountants
ICAI firm registration no. : 105310W
Prakash Chechani
Partner
Membership no. : 104203

Annexure to the Independent Auditors' Report

(Referred to in Paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date)

(I) (1) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(2) As explained to us the fixed assets have been physically verified by themanagement in accordance with the phased programme of verification which in our opinionis reasonable having regard to the size of the Company and the nature of its assets. Nomaterial discrepancies were noticed on such verification.

(ii) According to information and explanation given to us there is no stock ofinventory. Accordingly Clause 3(ii) of the Order is not applicable.

(iii) According to the information and explanations given to us the Company hasduring the year not granted any loans secured or unsecured to companies firms or otherparties covered in the register maintained under Section 189 of the Act. AccordinglyClause 3 (iii) (a) and (b) of the Order are not applicable.

(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 the purchases of inventories fixed assets andfor sale of goods and services. Further on the basis of our examination and according tothe information and explanations given to us we have neither come across nor have anyinformation of any instances of major weaknesses in the aforesaid internal control system.

(v) The Company has not accepted any deposits from the public. Accordingly Clause 3(v)of the Order is not applicable.

(vi) We have broadly reviewed the records maintained by the Company in respect ofproducts where pursuant to the Company's (Cost record and audit) Rules2014themaintenance of cost records have been prescribed under Section 148(1) of the Act and areof the opinion that prima facie the prescribed accounts and records have been made andmaintained. We have not however made a detailed examination of records with a view todetermine whether they are accurate or complete.

(vii) The disputed statutory dues aggregating ' 104.41 Lacs that have not beendeposited on account of disputed matters pending before appropriate authorities are asunder:

Nature of the Statute Nature of Dues Amount under dispute not yet deposited (' in lacs) Period to which the amount relates Forum where the dispute is pending
Sales Tax Laws Sales Tax 6.10 A.Y.1999-2000 Jt. Sales Tax commissioner Rajkot
Income Tax Laws Income Tax 72.11 A.Y. 2005-06 ITAT Rajkot
Income Tax Laws Income Tax 26.20 A.Y. 2006-07 ITAT Mumbai - since remanded back to CIT(A) Mumbai
Total 104.41

(viii) The Company has accumulated losses at the end of the financial year and hasincurred cash losses in the financial year under report and in the immediately precedingfinancial year.

(ix) The Company has not defaulted in repayment of its dues to bank. The Company hasnot issued any debentures.

(x) According to information and explanation given to us the Company has not given anyguarantee for loans taken by othersfrom banks or financial institutions. AccordinglyClause 3 (x) of the Order is not applicable.

(xi) The Company has not raised any term loan during the year. Accordingly Clause 3(xi) of the Order is not applicable.

(xii) Based upon the audit procedures performed and according to the information andexplanations given to us no fraud on or by the Company has been noticed or reportedduring the year nor have we been informed about any such case by the Management.

Mumbai; 28th May 2015 for M/s. K.U. Kothari & Co.
Chartered Accountants
ICAI firm registration no. : 105310W
Prakash Chechani
Partner
Membership no. : 104203

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