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Amber Fabrics Ltd.

BSE: 536820 Sector: IT
NSE: N.A. ISIN Code: INE777E01017
BSE LIVE 15:20 | 17 May Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 13.82
PREVIOUS CLOSE 14.54
VOLUME 198000
52-Week high 15.64
52-Week low 11.87
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 13.82
Sell Qty 12476.00
OPEN 13.82
CLOSE 14.54
VOLUME 198000
52-Week high 15.64
52-Week low 11.87
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 13.82
Sell Qty 12476.00

Amber Fabrics Ltd. (AMBERFABRICS) - Auditors Report

Company auditors report

To

The Members

Amber Fabrics Limited Hyderabad

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Amber FabricsLimited ("the Company") which comprise the Balance sheet as at 31 March2016 the Statement of Profit and Loss and the Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 provisions 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder 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 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 standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India

i. In the case of the Balance sheet of the state of affairs of the Company as at March31 2016;

ii. In the case of the Profit and Loss Account of the profit for the year ended onthat date; and

iii. In the case of Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("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 statement on the matters specified in the paragraph 3and 4 of the Order to the extent 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 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 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

31 March 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 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 did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses. iii. There were no amounts which wererequired to be transferred to the Investor Education and Protection Fund by the Company.

For M/s Raju S Narayan & Associates
Chartered Accountants
(FRN : 022592N)
Raju S Narayan
Date : 30/05/2016 Partner
Place : Hyderabad Membership No.: 512105

ANNEXURE TO THE AUDITORS' REPORT

The Annexure referred to in our Independent Auditors' Report to the members of AmberFabrics Limited ("the Company") on the standalone financial statements for theyear ended on 31st March 2016 we report that:

1. In respect of Fixed Assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets on the basis of available information.

b. As per the information and explanation given to us all the fixed assets have beenphysically verified by the management at reasonable intervals during the year. No materialdiscrepancies were noticed on such physical verification.

2. In respect of Inventories:

a. As per the information and explanation given to us the inventories have beenphysical verified by the management at reasonable intervals during the year.

b. In our opinion and as per the information and explanation given to us procedures ofphysical verification of inventory followed by the management are reasonable and adequatein relation to the size of the company and nature of its business.

c. The Company has maintained proper records of inventories. The discrepancies noticedon verification between the physical stocks and books records were not material.

3. In respect of Loans and Advances granted during the year:

As per information and explanation given to us the Company has not granted loans toparties covered in the register maintained under section 189 of the Companies Act 2013(‘the Act') and therefore the clauses (iii) (a) and (b) of the Companies (Auditor'sReport) Order 2015 are not applicable.

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business with regard to purchase of inventory and fixed assets and for thesale of goods. During the course of audit no major weakness has been noticed in theinternal controls.

5. During the year the company has not accepted any deposits and hence the directivesissued by the Reserve Bank of India and the provisions of sections 73 to 76 or any otherrelevant provisions of the Companies Act 2013 and the rules framed there under are notapplicable to the company.

6. As per the information and explanation provided to us the company is not required tomaintain the cost records as per the provisions of Companies (Cost Records and Audit)Rules 2014 hence Clause (vi) of the Companies (Auditor's Report) order2015 are notapplicable.

7. In respect of Statutory Dues:

a. According to the records of the Company the Company is by and large regular indepositing with appropriate authorities undisputed statutory dues including providentfund employees' state insurance income tax sales tax wealth tax service tax duty ofcustoms duty of excise value added tax cess and any other statutory dues with theappropriate authorities applicable to it.

b. During the year no amount is required to be transferred to the Investor

Education and Protection Fund and hence clause (c) of clause (vii) of the Companies(Auditor's Report) Order 2015 is not applicable.

8. The company has not incurred any cash losses during the financial year under reviewor in the immediately preceding financial year.

9. Based on our audit procedures and according to the information and explanation givento us we are of the opinion that the Company has not defaulted in repayment of dues tofinancial institutions banks and debenture holders.

10. As per the information and the explanations given to us the Company has not givenany guarantee for loans taken by others from banks or financial institutions.

11. To the best of our knowledge and belief and according to the information andexplanation given to us no fresh term loans availed by the company during the year underaudit.

12. According to the information and explanations given to us no material fraud on orby the Company has been noticed or reported during the year.

For M/s Raju S Narayan & Associates
Chartered Accountants
(FRN : 022592N)
Raju S Narayan
Date : 30/05/2016 Partner
Place : Hyderabad Membership No.: 512105