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Ardi Investments & Trading Company Ltd.

BSE: 504370 Sector: Financials
NSE: N.A. ISIN Code: N.A.
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Ardi Investments & Trading Company Ltd. (ARDIINVEST) - Auditors Report

Company auditors report

Independent Auditor's Report

To the Members of

AUDI INVESTMENT AND TRADING CO.LTD.

Report on the Financial Statements

We have audited the accompanying financial statements of ARDI INVESTMENT AND TRADINGCO. LTD ("theCompany") which comprise the Balance Sheet as at March 312014 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 Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956 "the Act") read with the General Circular08/2014 dated 4th April 2014of the Ministry of Corporate Affairs and in accordance withthe accounting principles generally accepted in India. This responsibility includes thedesign implementation and maintenance of internal control 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirementsand plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement. An audit involvesperforming procedures to obtain audit evidence about the amounts and disclosures in thefinancial statements. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the financial statements whetherdue to fraud or error. In making those risk assessments the auditor considers internalcontrol relevant to the Company's preparation and fair presentation of the financialstatements in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of accounting policies used and thereasonablenessof the accounting estimates made by management as well as evaluating theoverall presentation of the financial statements. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 state of affairs of the Company as atMarch 31 2014;

(b) in the case of the Statement of Profit and Loss of the Profit for the year endedon that date; and

(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2003 ("the Order")issued by the Central Government of India in terms of sub-section (4A) of section 227 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 4 and5 of the Order.

2. As required by section 227(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 Balance Sheet and Statement of Profit and Loss and Cash FlowStatement dealt with by this report comply with the accounting standards referred to insub- section (3C) of Section 211 of the Companies Act 1956 read with General Circular08/2014 dated 04th April 2014 of the Ministry of Corporate Affairs..

e. On the basis of written representations received from the directors as on March 312014 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2014 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.

For Rahul Bansal & Associate
Chartered Accountants
Firm Registration No. 327098E
CA Rahul Bansal
Place: Mumbai (Proprietor)
Date: 30/05/2014 Membership No. 068619

ANNEXURE TO THE AUDITORS' REPORT

Referred to in paragraph 1under the heading of "Report of Other Legal andRegulatory Requirements" of our report of even date

I The Company does not own any Fixed Assets.

II There was no Inventory in the company during the year.

III The Company has not granted nor taken any loans secured/ unsecured to CompaniesFirms or other parties covered in the register maintained under Section 301 of theCompanies Act 1956.

(IV) In our opinion and according to the information and explanation given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business with regard to purchase of inventory and fixed assets and withregard to sale of goods and services.

During the course of our audit we have not observed any continuing failure to correctmajor weakness in internal controls system.

(V) a. According to the information and explanations provided by the management we areof the opinion that the transactions that need to be entered into the register maintainedunder Section 301 have been so entered.

b. In our opinion and according to the information and explanations given to us notransactions exceeding the value of Rupees five lacs in respect of any party have beenentered into during the financial year in pursuance of contracts or arrangements enteredin the register maintained u/s 301 of the Companies Act1956.

(VI) As the Company has not accepted any deposit from the public the directives issuedby the Reserve Bank of India and the provisions of section 58 A and 58AA of the Act andthe rules framed there under are not applicable.

(VII) In our opinion the company does not have internal audit system commensuratewith the size of the company and nature of its business.

(VIIT) Maintenance of cost records prescribed by the central government under section209(1) (d) of the Companies Act 1956 is not applicable to the company.

(IX) a. According to the information and explanations give to us by the management andon the basis of our examination of books of account of the Company in our opinion thecompany is generally regular in depositing undisputed statutory dues with the appropriateauthorities.

b. According to the information and explanations give to us by the management noundisputed arrears of statutory dues were outstanding as at 31st March 2014for a period ofmore than six months from the date when they become payable.

c. According to the information and explanations given to us there are no dues of saletax income tax custom duty wealth tax excise duty and cess which have not beendeposited on account of any

(X.) The Company has accumulated losses at the end of the financial year; however theCompany has made net profit during the year. The Company has not incurred cash lossesduring the financial covered by our audit.

(XI.) According to information and explanations give to us by the management we are ofthe opinion that the Company has not defaulted in repayment of dues to bank or financialinstitution.

(XII) According to information and explanations give to us the Company has not grantedany loans and advances on the basis of security by way of pledge of shares debentures andother securities.

(XIII) In our opinion the Company is not a chit fund or a nidhi/ mutual benefitfund/society. Therefore the provisions of clause 4(xiii) of the Order are not applicableto the Company.

(XIV) The company business/activities during the year does not include dealing sharessecurities debentures or other investment hence the requirement of offering comments onthis clause is not applicable.

(XV) In over opinion and according to the information and explanations given to us theCompany has not given any guarantee for loans taken by others from bank or financialinstitutions during the year.

(XVI) In our opinion and according to the information & explanation given to usthe company has neither received nor applied any term loan during the financial year.

(XVII) According to the information and explanations given to us and on overallexamination of the Balance Sheet of the Company we report that no funds raised onshort-term basis have been used for long-term investment.

(XVIII) The Company has not made preferential allotment of equity shares to partiescovered under the register maintained under Section 301 of the Companies Act 1956.

(XIX) The Company has not raised any monies by way of issue of any debentures duringthe year

(XX) The Company has not raised any monies by way of public issue during the year.

(XXI) In our opinion and according to the information and explanations given to us nofraud on or by the Company has been noticed or reported during the year.

For Rahul Bansal & Associate
Chartered Accountants
Firm Registration No. 327098E
CA Rahul Bansal
Place: Mumbai (Proprietor)
Date: 30/05/2014 Membership No. 068619

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