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Anant Raj Ltd.

BSE: 515055 Sector: Infrastructure
NSE: ANANTRAJ ISIN Code: INE242C01024
BSE LIVE 15:56 | 15 Dec 58.15 0.15
(0.26%)
OPEN

59.50

HIGH

59.75

LOW

58.00

NSE 15:58 | 15 Dec 58.30 0.25
(0.43%)
OPEN

59.15

HIGH

59.75

LOW

57.90

OPEN 59.50
PREVIOUS CLOSE 58.00
VOLUME 120851
52-Week high 71.80
52-Week low 36.55
P/E 32.49
Mkt Cap.(Rs cr) 1,716
Buy Price 58.15
Buy Qty 920.00
Sell Price 0.00
Sell Qty 0.00
OPEN 59.50
CLOSE 58.00
VOLUME 120851
52-Week high 71.80
52-Week low 36.55
P/E 32.49
Mkt Cap.(Rs cr) 1,716
Buy Price 58.15
Buy Qty 920.00
Sell Price 0.00
Sell Qty 0.00

Anant Raj Ltd. (ANANTRAJ) - Auditors Report

Company auditors report

To the Members of Anant Raj Limited

REPORT ON THE STANDALONE IND AS FINANCIAL STATEMENTS

We have audited the accompanying standalone Ind AS financial statementsof Anant Raj Limited ("the Company") which comprise the Balance Sheet as atMarch 31 2017 the Statement of Profit and Loss (including Other Comprehensive Income)the Cash Flow Statement and the Statement of Changes in Equity for the year then endedand a summary of the significant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE STANDALONE FINANCIALSTATEMENTS

The Company's Board of Directors is responsible for the mattersstated in Section 134 (5) of the Companies Act 2013 ("the Act") with respect tothe preparation of these standalone Ind AS financial statements that give a true and fairview of the financial position financial performance including other comprehensiveincome cash flows and changes in equity of the Company in accordance with the accountingprinciples generally accepted in India including the Indian Accounting Standards (Ind AS)prescribed under section 133 of the Act read with relevant rules issued thereunder.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and 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 standalone Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.

AUDITOR'S RESPONSIBILITY

Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based 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 Auditingspecified under Section 143 (10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and disclosures in the standalone Ind AS financial statements. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the standalone Ind AS financial statements whether due to fraudor error. In making those risk assessments the auditor considers internal financialcontrol relevant to the Company's preparation of the standalone Ind AS financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by theCompany's Directors as well as evaluating the overall presentation of the standaloneInd AS financial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone Ind AS financialstatements.

OPINION

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India including the IndAS of the financial position of the Company as at March 31 2017 and financialperformance including other comprehensive income its cash flows and the changes in equityfor the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor's Report) Order 2016 (the Order) issuedby the Central Government of India in terms of sub-section (11) of section 143 of the Actwe give in "Annexure A" a statement on the matters specified in paragraphs 3 and4 of the Order.

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 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 the Statement of Profit and Loss the Cash Flow Statement andStatement of Change in Equity dealt with by this Report are in agreement with the books ofaccount;

d) In our opinion the aforesaid standalone Ind AS financial statements comply with theAccounting Standards specified under Section 133 of the Act.

e) On the basis of written representations received from the directorsas on March 31 2017 taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2017 from being appointed as a director in terms of Section164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate Report in "Annexure B".

g) With respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us: i) The Company has disclosed the impact of pending litigationson its financial position in its standalone Ind AS financial statements-Refer Note No. 2633 and 35 to the standalone Ind AS financial statements.

ii) The Company did not have any material foreseeable losses onlong-term contracts including derivative contracts.

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

iv) The Company has provided requisite disclosures in the standaloneInd AS financial statements as to its holdings as well as dealings in Specified Bank Notesas specified in the Notification G.S.R. 308(E) dated March 30 2017 of the Ministry ofCorporate Affairs during the period from November 8 2016 to December 30 2016. Based onaudit procedures and relying on the management representation we report that thedisclosures are in accordance with books of account maintained by the Company and asproduced to us by the management of the Company. Refer Note 46 to the standalone Ind ASfinancial statements.

BA-5 Stutee Building B. Bhushan& Co.
Bank Street Karol Bagh Chartered Accountants
New Delhi- 110005 Firm Registration No. 001596N
By the hand of
Kamal Ahluwalia
May 30 2017 Partner
New Delhi. Membership No.093812

"ANNEXURE A" TO INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1 under the heading ‘Report on OtherLegal and Regulatory Requirement' of our report of even date to the Ind AS financialstatements of the Company for the year ended March 31 2017)

i) In respect ofproperty plant and equipment:

(a) The Company has maintained proper records showing full particularsincluding quantitative details and situation of property plant and equipment.

(b) The property plant and equipment were physically verified by themanagement in a phased periodical manner which in our opinion is reasonable havingregard to the size of the Company and nature of its assets. According to the informationand explanations given to us no material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and onthe basis of our examination of the records of the Company the title deeds of immovableproperties are held in the name of the Company except one lease agreement is notregistered in the name of the Company.

ii) The inventory includes land buildings construction work inprogress construction and development material development rights spares werephysically verified by the management at reasonable intervals during the year. Thediscrepancies noticed on physical verification of inventory as compared to book recordswere not material and have been properly dealt with in the books of account.

iii) The Company has granted unsecured loans to subsidiaries covered inthe register maintained under section 189 of the Act: (a) In our opinion terms andconditions on which the loans had been granted to the aforesaid subsidiaries were notprima facie prejudicial to the interests of the Company.

(b) The receipts of principal and interest whenever recoverable duringthe year are as per mutually agreed stipulations.

(c) There are no overdue amountsin respect of aforesaid loans.

iv) In our opinion and according to the information and explanationsgiven to us the Company has complied with the provisions of section 185 and 186 of theAct in respect of grant of loans making investments and providing guarantees andsecurities as applicable.

v) The Company has not accepted any deposits within the meaning ofsections 73 to 76 or any other relevant provisions of the Act.

vi) We have broadly reviewed the cost records maintained by the Companypursuant to the Rules made by the Central Government for the maintenance of cost recordsunder subsection (1) of Section 148 of the Act in respect of activities carried on by theCompany and are of the opinion that prima facie the prescribed accounts and recordsmaintained. However we have not made a detailed examination of the cost records with aview to determine whether they are accurate or complete.

vii) In respect of statutory dues: a) According to the information andexplanations given to us and the records of the Company examined by us in our opinionthe Company has generally been regular in depositing the undisputed statutory duesincluding provident fund employees' state insurance income tax sales tax wealthtax service tax custom duty excise duty value added tax cess and other statutory duesas applicable with the appropriate authorities except for a few instances of slight delayin deposits and there are no such outstanding dues as at March 31 2017 for a period ofmore than six months from the date they become payable.

b) The dues outstanding in respect of service tax value added taxincome tax and excise duty on account of any dispute are as follows:

Name of the Statute Nature of dues Amount (Rs) Period to which the amount relates Forum where dispute is pending Present status as the on the date of this Report
Haryana General Sales tax Act 1973 Sales tax 85.51 lakhs * FY 2002-03 Hon'ble High Court of Punjab & Haryana Chandigarh Writ petition filed by the Company is pending before the Hon'ble High Court of Punjab & Haryana Chandigarh
Haryana Value Added tax Act 2003 Value added tax 131.65 lakhs* FY 2003-04 Hon'ble High Court of Punjab & Haryana Chandigarh Writ petition filed by the Company is pending before the Hon'ble High Court of Punjab & Haryana Chandigarh
Income tax Act 1961 Income tax 279.12 lakhs# AY 1997-98 1998-99 1999-2000 Hon'ble High Court of Delhi Delhi Appeal filed by the Company is pending before Hon'ble High Court of Delhi New Delhi
Income tax Act 1961 Income tax 139.82 lakhs A.Y. 2009-10 The CIT New Delhi. Appeal before CIT (Appeals) New Delhi is allowed in full on legal grounds and partly allowed on merit. Demand is yet to be quantified till the date of this Report.
Income tax Act 1961 Income tax 5.17 lakhs A.Y. 2010-11 The CIT New Delhi. Appeal before CIT (Appeals) New Delhi is allowed in full on legal grounds and partly allowed on merit. Demand is yet to be quantified till the date of this Report.
Income tax Act 1961 Income tax 6.62 lakhs A.Y. 2011-12 The CIT New Delhi. Appeal before CIT (Appeals) New Delhi is allowed in full on legal grounds and partly allowed on merit. Demand is yet to be quantified till the date of this Report.
Income tax Act 1961 Income tax 3567.06 lakhs A.Y. 2013-14 The CIT New Delhi. Appeal filed by the Company is pending before CIT (Appeals) New Delhi.
Income tax Act 1961 Income tax 0.32lakhs A.Y. 2014-15 The CIT New Delhi. Appeal filed by the Company is pending before CIT (Appeals) New Delhi.

* Amounts are net of payments made and without considering interest forthe overdue period if any as may be levied if demand as raised is upheld.

# Excluding interest and additional tax viii) In our opinion andaccording to the information and explanations given to us the Company has not defaultedin repayment of borrowings to banks financial institutions and debenture holders. TheCompany does not have loans or borrowings from government.

ix) In our opinion and according to the information and explanationsgiven by the management the Company did not raise any money by way of initial publicoffer or further public offer. As informed to us the term loans were applied for thepurposes for which those are raised.

x) Based upon the audit procedures performed and the information andexplanations given by the management no fraud by the Company or on the Company by itsofficers or employees has been noticed or reported during the course of our audit.

xi) According to the information and explanations give to us and basedon our examination of the records of the Company the managerial remuneration has beenpaid/provided in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

xii) In our opinion the Company is not a nidhi company. xiii)According to the information and explanations given to us and based on our examination ofthe records of the Company all transactions with the related parties are in compliancewith sections 177 and 188 of the Act where applicable and details of such transactionshave been disclosed in the Ind AS financial statements as required by the applicableaccounting standards.

xiv) The Company has not made any preferential allotment or privateplacement of shares during the year under review.

xv) The Company has not entered into any non-cash transactions withdirectors or persons connected with him.

xvi) The Company is not required to be registered under section 45-IAof the Reserve Bank of India Act 1934.

BA-5 Stutee Building B. Bhushan& Co.
Bank Street Karol Bagh Chartered Accountants
New Delhi- 110005 Firm Registration No. 001596N
By the hand of
Kamal Ahluwalia
May 30 2017 Partner
New Delhi. Membership No.093812