You are here » Home » Companies » Company Overview » Amraworld Agrico Ltd

Amraworld Agrico Ltd.

BSE: 531991 Sector: Others
NSE: N.A. ISIN Code: INE735C01027
BSE LIVE 15:14 | 24 Nov 0.38 -0.02
(-5.00%)
OPEN

0.38

HIGH

0.38

LOW

0.38

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.38
PREVIOUS CLOSE 0.40
VOLUME 50
52-Week high 0.88
52-Week low 0.37
P/E
Mkt Cap.(Rs cr) 4.57
Buy Price 0.38
Buy Qty 501.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.38
CLOSE 0.40
VOLUME 50
52-Week high 0.88
52-Week low 0.37
P/E
Mkt Cap.(Rs cr) 4.57
Buy Price 0.38
Buy Qty 501.00
Sell Price 0.00
Sell Qty 0.00

Amraworld Agrico Ltd. (AMRAWORLDAGRICO) - Auditors Report

Company auditors report

TO THE MEMBERS OF AMRAWORLD AGRICO LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of AMRAWORLD AGRICO LIMITED which comprise the Balance Sheet as at 31 March 2015 the Statement of Profit and Lossthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial 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 Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating 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 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company’s Directors as well as evaluating the overallpresentation 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;

b. in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

c. in the case of the Profit and Loss Account of the profit/ loss for the year endedon that date; and d. in the case of the Cash Flow Statement of the cash flows for theyear ended on that date.

Report on other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order 2015 issued by the CentralGovernment of India in term of sub-section (11) of section 143 of the Companies Act 2013we give in the Annexure a statement on the matters specified in the paragraphs 3 and 4 ofthe Order to the extent applicable.

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 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 appears from our examination of those books.

c. the Balance Sheet the Statement of Profit and Loss and 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 written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f. With respect to the other matters included in the Auditor’s Report and to ourbest of our information and according to the explanations given to us.

i) The Company does not have any pending litigations which would impact its financialposition.

ii) The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii) There were no amounts which required to be transferred to the Investor Educationand Protection Fund by the Company.

For Y. D. & Co
CHARTERED ACCOUNTANTS
FRN: 018846N
PLACE: LUDHIANA
DATE: 25.05.2015
Sd/-
CA RAKESH PURI
PARTNER
M. No.: 092728

The Annexure referred to in paragraph 1 of the Our Report of even date to the membersof M/s AMRAWORLD AGRICO LIMITED on the accounts of the company for the year ended 31stMarch 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

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

(b) In our opinion the company has not disposed off substantial part of fixed assetsduring the year and the going concern status of the company is not affected.

2. The company does not have any inventory. Hence clause (ii) (a) (b) & (c) arenot applicable to the company.

3. As per information and explanation given to us the company has not granted loans toparties covered in the register maintained under section 301 of the Companies Act 1956.hence clause (iii) (a) (b) (c) & (d) are not applicable to the company

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business. During the course of our audit we have not observed any continuingfailure to correct major weakness in internal controls.

5. According to the information and explanations given to us the Company has notaccepted any deposits from the public. Therefore the directives issued by the ReserveBank of India and the provisions of sections 73 to 76 or any other relevant provisions ofthe Companies Act and the rules framed there under are not applicable to the Company.

6. As informed to us Central government has not prescribed maintenance of cost recordsunder sub-section (1) of section 148 of the Companies Act in respect of products of thecompany.

7. In respect of Statutory dues:

(a) As per information & according to explanation given to us the company isgenerally regular in depositing statutory dues with the appropriate authorities during theyear.

(b) As per information & according to explanation given to us there are no casesof non deposit with the appropriate authorities of disputed dues of Income-tax and anyother statutory dues with the appropriate authorities during the year.

(c) There were no amounts which required to be transferred to the Investor Educationand Protection Fund by the Company

8. The accumulated losses at the end of the financial year are not more than 50% of itsnet worth and the Company has incurred cash losses of Rs. 698429/- during the financialyear covered by the audit and also incurred losses in the immediately preceding financialyear.

9. Based on our audit procedures and according to the information and explanationsgiven to us there are no loans taken from financial institution banks ordebenture-holders therefore the question of payments does not arise.

10. According to the information and explanations given to us the company has notgiven any guarantee for loans taken by others from Banks or financial institutions.

11. The company has not raised any term loans during the year.

12. In our opinion and according to the information and explanations given to us nomaterial fraud on or by the company has been noticed or reported during the course ofour audit.

For Y. D. & Co
CHARTERED ACCOUNTANTS
FRN: 018846N
PLACE: LUDHIANA
DATE: 25.05.2015 Sd/-
CA RAKESH PURI
PARTNER
M. No.: 092728

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