THE MEMBERS ANISHA IMPEX LIMITED
Report on the Financial Statements
We have audited the accompanying financial statements of ANISHA IMPEX LIMITED (theCompany) as on 31/03/2016 the Statement of Profit and Loss the Cash Flow Statement forthe year then ended and a summary of significant accounting policies and otherexplanatory information.
Managements Responsibility for the Financial Statements
The Companys 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. This responsibility also includes themaintenance of adequate accounting records in accordance with the provision of the Act forsafeguarding of the assets of the Company and for preventing and detecting the frauds andother irregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of internal financial control that were operating e ectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.
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 mis-statement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditors judgment including the as- sessment of the risks of material misstatementof the financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Com-panys preparation of the financial statements that give true and fair view in orderto design audit proce- dures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Companys Directors as well as evaluating theoverall presentation of the financial statements.
We believe that the audit evidence we have obtained is su cient and appropriate toprovide a basis for our audit opinion on the financial statements.
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; a) in the case of the Balance Sheet of the stateof affairs of the Company as at 31/03/2016 b) in the case of the Profit and Loss Accountof the profit/ loss for the year ended on that date; and c) in the case of the Cash FlowStatement of the cash flows for the year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection143 of the Act we give in the Annexure a statement on the matters Specified inparagraphs 3 and 4 of the Order.
2. As required by section 114(3) of the Act we report that:
a) we have obtained all the information and explanations which to the best of ourknowledge 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 financial statements comply with the applicableAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014
e) In our opinion there are no financial transactions or matters that may have adverseeffect on the functioning of the company.
(f) On the basis of written representations received from the directors as on31/03/2016 and taken on record by the Board of Directors we report that none of thedirectors is disqualified as on 31/03/2016 from being appointed as Directors in termsSection 164(2) of the Companies Act 2013;
g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditors Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014::
(i) On the basis of written representation received from the management of the companythe company does not have any pending litigations which would impact its financialposition
(ii) The Company did not have any long-term contracts including derivative contracts;as such the question of commenting on any material foreseeable losses thereon does notarise
(iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund.
| ||Forming an Opinion and Reporting on Financial Statements |
| ||For MARS & Associates |
| ||(Chartered Accountants) |
| ||REGN NO. 10484N |
|Place : DELHI || |
|Dated : 30/05/2016 || |
| ||RAJESH KUMAR AGRAWAL Partner) |
| ||M.N. 89057 |
Annexure referred to in paragraph 1 under the heading of 'Report on other Legal andRegulatory requirements' of Our Report of even date to the members of ANISHA IMPEX LIMITEDON THE ACCOUNTS FOR THE YEAR ENDED 31/03/2016
1. The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets. Physical verification of FixedAssets has been carried out by the Management and no discrepancies were noticed on suchverification. There was no substantial disposal of fixed assets during the year.
2(a). According to the information and explanations given to us the Management hasphysically verified the inventory during the year. In our opinion the frequency ofverfication s reasonable.
2(b). The procedure adopted for physical verification of stock reasonable and adequatein relation to the size of the Company and the nature of its business. 2(c). In ouropinion and according to the inormation given to us and on the basis of our examination ofthe records of inventoy the company is maintaing propert records of inventory and nodiscrepancies were noticed on physical vertification of inventory as compared to bookrecords.
3. The company has not given any loans to the companies firms or parties listed in theregister maintained under section 189 of the Act.
4. In our opinion and according to the information and explanation given to usthereare an adequate internal control procedures commensurate with the size of the company andthe nature of its business for the purchase of inventory and fixed assets and for the saleof goods. During the course of our audit we have not observed any continuing failure tocorrect any major weaknesses in internal controls.
5. The Company has not accepted any deposits from the public covered under Section 73to 76 of the Companies Act 2013 and rules framed thereunder.
6. As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act
7. (a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing the undisputedstatutory dues including Provident Fund Employees State Insurance Income-taxSales-tax Wealth Tax Service Tax Custom Duty Excise Duty and other material statutorydues as applicable with the appropriate authorities in India ; (b) According to theinformation and explanations given to us and based on the records of the company examinedby us there are no dues of Income Tax Wealth Tax Service Tax Sales Tax Customs Dutyand Excise Duty which have not been deposited on account of any disputes (c) There has notbeen an occasion in case of the Company during the year under report to transfer any sumsto the Investor Education and Protection Fund. The question of reporting delay intransferring such sums does not arise
8. The compnay does not have accumulated losses at the end of financial year equal toor more than 50% of its networth. The company has not incurred cash losses during thefinancial year covered by our audit and the immediately preceding financial year.
9. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the company has not defaulted in payment of dues tofinancial institutions and banks. The company does not have any borrowings by way ofdebtneutes.
10. In our opinion and according to the information and explanations given to us thecompany has not given any guarantee for loans taken by others from banks or financialinstitutions.
11. The company has not obtained any term loans.Hence the question of application forthe purpose for which they were obtained does not arise.
12. Based on the audit procedures performed and information and explanations given bythe management we report that no fraud on or by the company has been noticed or reportedduring the year.
| ||FOR MARS & ASSOCIATES |
| ||(CHARTERED ACCOUNTANTS) |
| ||REGN NO. 10484N |
|PLACE : DELHI || |
|DATED : 30/05/2016 || |
| ||RAJESH KUMAR AGRAWAL PARTNER) |
| ||M.N. 89057 |