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Aroni Commercials Ltd.

BSE: 512273 Sector: Financials
NSE: N.A. ISIN Code: INE484B01016
BSE LIVE 13:36 | 05 Dec 72.00 2.75
(3.97%)
OPEN

72.00

HIGH

72.00

LOW

72.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 72.00
PREVIOUS CLOSE 69.25
VOLUME 200
52-Week high 142.00
52-Week low 68.90
P/E 16.07
Mkt Cap.(Rs cr) 29.74
Buy Price 67.00
Buy Qty 50.00
Sell Price 72.70
Sell Qty 10.00
OPEN 72.00
CLOSE 69.25
VOLUME 200
52-Week high 142.00
52-Week low 68.90
P/E 16.07
Mkt Cap.(Rs cr) 29.74
Buy Price 67.00
Buy Qty 50.00
Sell Price 72.70
Sell Qty 10.00

Aroni Commercials Ltd. (ARONICOMMERCIAL) - Auditors Report

Company auditors report

To

The Members of

ARONI COMMERCIALS LIMITED.

Report on the Financial Statements

We have audited the financial statements of ARONI COMMERCIALS LIMITED ("theCompany") which comprise the Balance Sheet of as at 31st March 2015 the statementof Profit & Loss Account and the Cash Flow Statement for the year then ended and asummary of the significant accounting policies and other explanatory information.

Management's 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 preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with read with Rule 7 of the Companies (Accounts) Rules2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are prudent anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of accounting recordsrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material 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 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 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 about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the

risks of material misstatement of the financial statements whether due to fraud orerror. In making those risk assessments the auditor considers internal control relevantto the Company's preparation and fair presentation of the financial statements in order todesign audit procedures that are appropriate in the circumstances but not for the purposeof expressing an opinion on the effectiveness of the Company's internal control. An auditalso includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Management as well as evaluatingthe overall presentation of the financial statements. We believe that the audit evidencewe have 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 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 of the state of affairs of the Company as at 31stMarch 2015 and its profit and its cash flows for the year ended on that date:

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) order 2015 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act we give in theAnnexure a statement on the matters specified in Paragraphs 3 and 4 of the Order to theextent applicable.

2. As required by Section 143(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 it appears from our examination of those books; subject to note no.19.6and 19.7

(c) The Balance sheet and the Profit & Loss Account and the cash flow statementdealt with 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 7 of thecompanies (Accounts) Rules 2014

(e) On the basis of written representations received from the director's of the companyas at 31st

March 2015 and taken on record by the Board of Director's we report that none of thedirectors is disqualified as on 31st March 2015 from being appointed as director in termsof Section 164 (2) of the act; and

(f) With respect to the other matters to be included in the Auditors Report inaccordance with Rule 11 of the companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The company has disclosed the impact of pending litigations on its financialstatements-Refer Note No. 19 to the financial statements;

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 required to be transferred to the Investor Education andProtection Fund by the Company.

For LALIT MEHTA ASSOCIATES

Chartered Accountants Firm Registration No. 105568W

Ranka Kalpesh Vimalchand
Place : Mumbai (Partner)
Date: 27th May 2015 Membership No. 113906

ANNEXURE TO THE INDEPENDENT AUDITORSRs.REPORT

The Annexure referred to in our independent AuditorsRs.Report to the members of thecompany on the standalone financial statements for the year ended 31 March 2015 we reportthat:

1. (a) The Company has maintained proper records

showing full particulars including quantitative details and situation of the fixedassets.

(b) The fixed assets were physically verified during the year by the Management inaccordance with a regular programme of verification which in our opinion thisperiodicity of physical verification is reasonable having regard to the size of thecompany and the nature of its assets. According to the information and explanation givento us no material discrepancies were noticed on such verification.

2. The company is a Sub Broker of M/s Shriyam Broking Intermediary Ltd and also engagedin the activities of investment in shares/Bonds etc. Accordingly it does not hold anyphysical inventories. Thus paragraph 3(ii) of the order is not applicable.

3. The Company has not granted any loans any loans secured or unsecured to companiesfirms or other parties covered in the Register maintained under Section 189 of theCompanies Act 2013 ('the Act').

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the company and thenature of its business with regard to purchases of fixed assets and the sale of services.During the course of our audit we have not observed

any major weakness in such internal control system.

5. The Company has not accepted any deposits form the public.

6. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the company.

7. (a) According to the information and explanations

given to us and on the basis of our examination of the records of the company amountsdeducted/ accrued in the books of account in respect of undisputed statutory duesincluding income tax sales tax wealth tax service tax cess and other materialstatutory dues have been regularly deposited during the year by the company with theappropriate authorities. Dues such as Custom Duty and Excise duty are not applicable tothe company considering the nature of business that the company is engaged in.

There were no undisputed amounts payable in respect of Income-tax Wealth Tax ServiceTax Cess and other material statutory dues in arrears as at 31st March 2015 for a periodof more than six months from the date they became payable.

(b) According to the information and explanations given to us and records of thecompany the following are the particulars of disputed dues on account of income tax andsales tax matters that have not been deposited by the company as at 31st march 2015 :-

Sr. No. Name of the statue Nature of the due Amount o Period to which the amount relates Forum where the dispute is pending Amount paid under protest/ refund adjusted
1 Madhya Pradesh Sales Tax Act Sale Tax Liabilities due to rejection of "C" Form & Pending "C" Forms 8022602 AY 1996-97 The Deputy commissioner of commercial Tax has Redirected case to Assessing Officers for Reassessment Refer to Note
2. Income tax Act 1961 Demand raised u/s 143(3) of Income Tax Act 1961 442285 AY 2010-11 Appeal preferred with CIT(A) NIL
3. Income tax Act 1961 As per order U/s 143(3) 72430 AY 2012-13 Rectification filed with Income Tax Department NIL

Note: Amount is adjusted from the available credit of the facility of exemption ofpayment of tax under CTD Notification No.A-3-32-94-ST-V(5) on account of investment inNon-conventional power generation system. In case of unfavorable outcome available creditfor that year and subsequent year will be reduced and reduced credit after adjustingdemand will carry forward.

(c) There is no amount required to be transferred to investor education and protectionfund in accordance with the relevant provisions of Companies Act 1956 (1 of 1956) andrules made thereunder. Thus paragraph 7 (c) of the order is not applicable.

8. The company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year.

9. The company did not have any outstanding dues to financial institutions Banks ordebenture holders during the year.

10. In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.

11. The Company has not obtained any term loans during the year. Thus paragraph 11 ofthe order is not applicable.

12. To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company has been noticedor reported during the year.

For LALIT MEHTA ASSOCIATES

Chartered Accountants Firm Registration No. 105568W

Ranka Kalpesh Vimalchand
Place : Mumbai (Partner)
Date: 27th May 2015 Membership No. 113906

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