The Members of ARNOLD HOLDINGS LIMITED
Report on the Financial Statements
We have audited the accompanying financial statements of ARNOLD HOLDINGS LIMITED which comprise the Balance Sheet as at March 31 2015Profit and Loss for the year thenended the Cash flow Statement and a summary of the significant accounting policies andother explanatory information.
Managements Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the .Preparationstandalone financial statements that give a true and fair viewOf the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specifiedunderSection 133 of the Act read with Rule 7 of the Companies (Accounts ) responsibilityalso includes maintenance of adequate accounting records in a with the provisions of theAct for safeguarding of the assets of the company and for preventing and detecting fraudsand other irregularities; selectionappropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate interna financialcontrols that were operating effectively for ensuring theaccuracy and completeness the accounting records relevant to the preparation andpresentation of the f nancial 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 thereunder.
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 aboutwhetherthe financial statements are free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and the disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the presentation of the financialstatements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone 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 bymanner so required and give a true and fair view in conformity with the accountingpriciples generally accepted in India of the state of affairs of the Company as at 31March 2015 and its profit and its cash flows for the year ended on that dat .
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditors Report) Order 2015 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Companies Act 2013We give in the Annexure a statement on the matters specified in paragraphs 4 of the Orderto the extent possible.
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 purposes of our audit.
b) In our opinion proper books of account as required by law have been kept bythe Company so far as it 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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with rule of theCompanies (Accounts) Rules 2014
e) On the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms ofSection 164 (2) of the Act.
f) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors Rules 2014 in our opinion andto the best of our information and according to the explanations given to us:
i The Company does not have any pending litigations which would materially impact itsfinancial position except please refer point no 5 of note no 1.
ii The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.
| ||For Jain Pradeep & Co. |
| ||Chartered Accountants |
| ||FRN No: 315109E |
|Place: Kolkata Date: 29th May 2015 ||(Pradeep Jain) |
Membership No. 052264