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Arihant Multi Commercial Ltd.

BSE: 506113 Sector: Others
NSE: N.A. ISIN Code: INE776N01028
BSE LIVE 15:45 | 27 Aug Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 134.40
PREVIOUS CLOSE 167.90
VOLUME 1774
52-Week high 134.40
52-Week low 0.00
P/E 13440.00
Mkt Cap.(Rs cr) 486.53
Buy Price 0.00
Buy Qty 0.00
Sell Price 134.40
Sell Qty 66601.00
OPEN 134.40
CLOSE 167.90
VOLUME 1774
52-Week high 134.40
52-Week low 0.00
P/E 13440.00
Mkt Cap.(Rs cr) 486.53
Buy Price 0.00
Buy Qty 0.00
Sell Price 134.40
Sell Qty 66601.00

Arihant Multi Commercial Ltd. (ARIHANTMULTI) - Auditors Report

Company auditors report

AUDITORS

To the Members of Lifeline Drugs & Pharma Limited

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Lifeline Drugs &Pharma Limited which comprise the Balance Sheet as at 31st March 2014 the Statementof Profit and Loss and the Cash Flow Statement for the year then ended and a summary ofthe significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Management is responsible for the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the Accounting Standards notified underthe Companies Act 1956 (the Act) read with the General Circular 15/2013 dated 13thSeptember 2013 of the Ministry of Corporate Affairs in respect of Section 133 of theCompanies Act 2013 and in accordance with the accounting principles generally accepted inIndia. This responsibility includes the design implementation and maintenance of internalcontrol relevant to the preparation and presentation of the financial statements that givea true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors’ 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 withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the 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 control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand 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 at 31stMarch 2014;

b) in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date and

c) in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2003 ("theOrder") issued by the Central Government of India in terms of sub-section (4A) ofsection 227 of the Act we give in the Annexure a statement on the matters specified inparagraphs 4 and 5 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 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 Statement of Profit and Loss and the Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

(d) In our opinion the Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with Accounting Standards notified under the Act read with theGeneral Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairsin respect of Section 133 of the Companies Act 2013.

(e) On the basis of the written representations received from the directors as on 31stMarch 2014 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2014 from being appointed as a director in terms of clause(g) of sub-section (1) of section 274 of the Act.

For Rishikesh Mishra & Associates
Chartered Accountants
CA Rishikesh Mishra
Proprietor
Place : Mumbai Membership No. 130717
Date : May 27 2014 FRN: 135719W

ANNEXURE TO THE AUDITORS’ REPORT

The Annexure referred to in our report to the members of Lifeline Drugs & PharmaLimited for the year ended 31st March 2014. We report that:

1. (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) As informed and explain to us these fixed assets have been physically verified bythe management at reasonable intervals during the year and no material discrepancies werenoticed on such verification.

(c) In our opinion and according to the information and explanations given to us thecompany has not disposed off any fixed assets during the year.

2. (a) As informed to us the inventory in the possession of the company has beenphysically verified at reasonable intervals during the year by the management.

(b) In our opinion the procedures of physical verification of inventory followed bythe management are reasonable and adequate in relation to the size of the company and thenature of its business.

(c) In our opinion the company is maintaining proper records of its inventories.According to the information given to us no discrepancies were noticed on physicalverification of inventories as compared to book records during the year.

3. (a) According to the information and explanation given to us and on the basis ofrecords furnished before us the Company has not granted any loans secured or unsecuredto Companies firms or other parties covered in the register maintained under section 301of the Companies Act 1956 hence Clause 4(iii) (b) (c) and (d) of Companies(Auditors’ Report) Order 2003 are not applicable.

(b) According to the information and explanation given to us and on the basis ofrecords furnished before us for the verification the Company has not taken any loanssecured or unsecured from Companies firms or other parties covered in the registermaintained under section 301 of the Companies Act 1956 hence clause 4(iii) (f) and (g)of Companies (Auditors’ Report) Order 2003 are not applicable.

4. In our opinion and according the information & explanations given to us thereare adequate internal control procedures commensurate with the size of the Company andnature of business with regard to purchase and sales. During the course of our Audit wehave not observed any continuing failure to correct major weakness of internal audit.

5. In our opinion and according the information & explanations given to us thereare no such transaction made in pursuance of contracts or arrangements that needed to beentered into in the register maintained under Section 301 of the Companies Act 1956 henceClause 4(v) of Companies (Auditors’ Report) Order 2003 is not applicable.

6. The Company has not accepted any deposits from the public hence Clause 4(vi) ofCompanies (Auditors’ Report) Order 2003 is not applicable.

7. The Company has an Internal Audit System commensurate with the size of the Companyand the nature of business.

8. We are informed that the Central Government has not prescribed maintenance of costrecords under section 209(1) (d) of the Companies Act 1956 in respect of products dealtwith by the Company.

9. (a) In our opinion and according to the information and explanations given to usundisputed statutory dues including Provident Fund Investors’ Education &Protection Fund Employees State Insurance Scheme Income Tax Sales Tax Wealth TaxCustom Duty Excise Duty CESS and any other statutory dues have been regularly depositedin time during the year with appropriate authorities and there are no undisputed statutorydues payable for a period of six months from the date they became payable as at 31stMarch 2014.

(b) According to the information and explanation given to us there are no disputespending before the authorities in respect of Sales Tax Income Tax Custom Duty and CESS.

10. The Company does not have any accumulated losses as at the end of financial yearand has not incurred cash losses in the current financial year and in the immediatepreceding financial year.

11. According to the records made available to us and information and explanation givento us by the management the Company has not defaulted in repayment of any dues tofinancial institutions or banks.

12. According to the information and explanations given to us the Company has notgranted any loans & advances on the basis of security by way of pledge of sharesdebentures and other securities.

13. In our opinion the Company is not chit fund nidhi mutual fund and societies andaccordingly clause 4(xiii) of Companies (Auditors’ Report) Order 2003 is notapplicable.

14. In our opinion and according to the information and explanations given to us theCompany has kept adequate records of its transactions and contracts in shares securitiesdebentures and other investments and timely entries have been made therein. The SharesSecurities Debentures and Other Investments are held in the name of the Company.

15. In our opinion and according to the information and explanations given to us theCompany has not given guarantees for loans taken by others from Banks & FinancialInstitutions. Accordingly Clause 4(xv) of Companies (Auditors’ Report) Order 2003 isnot applicable.

16. In our opinion and according to the information and explanations given to us theCompany has not obtained any Term Loan. Accordingly Clause 4(xvi) of Companies(Auditors’ Report) Order 2003 is not applicable.

17. According to the information and explanations given to us and on the basis of andoverall examination of the Balance Sheet of the Company no funds raised on short termbasis have been utilized for long term investment and vice versa.

18. According to the information and explanations given to us company has madepreferential allotment to the parties & companies covered under section 301 ofCompanies Act 1956. The terms of the allotment are not prejudicial to the interest ofcompany.

19. During the period the Company has not issued any debentures. Accordingly Clause4(xix) of Companies (Auditors’ Report) Order 2003 is not applicable.

20. The Company has not raised any money through a Public Issue during the year underAudit.

Accordingly Clause 4(xx) of Companies (Auditors’ Report) Order 2003 is notapplicable.

21. During the course of examination of the books and records of the Company carriedout in accordance with generally accepted auditing practices in India and according tothe information and explanation given to us we have neither come across any instance offraud on or by the Company noticed or reported during the period nor we have been informedof such instances by the management.

For Rishikesh Mishra & Associates
Chartered Accountants
CA Rishikesh Mishra
Proprietor
Place : Mumbai Membership No. 130717
Date : May 27 2014 FRN: 135719W

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