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Atharv Enterprises Ltd.

BSE: 530187 Sector: Others
NSE: N.A. ISIN Code: INE354E01023
BSE LIVE 15:04 | 25 May 2.09 0.06






NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.13
VOLUME 52000
52-Week high 4.14
52-Week low 1.28
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.10
Sell Qty 3000.00
OPEN 2.13
CLOSE 2.03
VOLUME 52000
52-Week high 4.14
52-Week low 1.28
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.10
Sell Qty 3000.00

Atharv Enterprises Ltd. (ATHARVENTER) - Auditors Report

Company auditors report


The Members


Report on the Financial Statements

We have audited the accompanying financial statements of ATHARV ENTERPIRSES LIMITED("the Company") which comprise the Balance Sheet as at March 31 2015 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of 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 in section 134(5) ofthe 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. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and d etecting the fraud s and other irregularities; selection and applicationof appropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a 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 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 misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe financial statements.

We believe that the audit evidence we have obtained is sufficient 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 state of affairs of the Company as at March31 2015

b. In the case of profit and Loss Account of the PROFIT of the Company for the yearended on that date.

c. in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's report) order 2015 issued by the CompanyLaw Board in terms of Section 143 (11) of the Act. We annexe hereto a statement on thematters specified in the paragraphs 3 and 4 of the said order to the extent they areapplicable in the company.

2. Further to our comments in the Annexure referred to in paragraph 1 above:-

(a) We have sought and obtained all the information and explanations which to the bestof our knowledge 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 the books.

(c) The Balance Sheet profit and Loss Account and cash flow statement dealt with bythis report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with the Accou n ti n g Sta n d a rd s specified under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014

(e) On the basis of written representations received from the directors as on31.03.2015 taken on record by the Board of Directors we report that none of the directorsis disqualified as on March 31 2015 from being appointed as a Director in terms ofSection 164 (2) of the Act and;

(f) With respect to the other matters included in the Auditor's Report and to the bestof our information and according to the explanations given to us :

i. The Company does not have any pending litigations which would impact its financialposition.

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii. The company is not liable for contribution to the Investor Education andProtection Fund.

For and on behalf of
Chartered Accountants
FRN: 112996W
Sanjay M. Vhanbatte
Place : Kolhapur Proprietor
Date : 29/05/2015 M.NO.044808



(Referred to in paragraph 1 of our Report of even date)

1. In respect of its assets

a) The Company has maintained records showing full particulars including quantitativedetails of Fixed Assets. One of the Cars still stands registered in the name of erstwhiledirectors of the company.

b) As explained to us fixed assets have been physically verified by the managementduring the year which in our opinion is reasonable having regard to the size of theCompany and nature of the assets. N o material discrepancies were noticed in such physicalverification.

2. In respect of Inventories :

a) As explained to us Inventories have been physically verified by the management atregular intervals during the year.

b) In our opinion and according to in form ation and explanation given to us theprocedures of physical verification of inventories f o l l o w e d b y t h e managementare reasonable and adequate in relation to the size of the Company and the nature of itsusiness.

c) The Company has maintained proper records of inventories. As explained to us therewere no material discrepancies noticed on physical verification of inventory as comparedto the book records.

3. The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the registered maintained under Section 189 of the Companies Act2013.

4. In our opinion and according to our information and explanation given to us thereare adequate internal control procedure commensurate with the size of the Company and thenature of its business for the purchase of inventory fixed assets and also for the saleof the goods. During the course of our audit we have not observed any major weaknesses ininternal controls.

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

6. The Central Government has not prescribed maintenance of Cost Records under Section209 (1) (d) of the Companies Act 1956 for the company.

7. In respect of statutory dues :

a) According to the records of the Company undisputed statutory dues includingIncome-Tax sales tax and other statutory dues have been generally regularly

7. In respect of statutory dues :

a) According to the records of the Company undisputed statutory dues includingIncome-Tax sales tax and other statutory dues have been generally regularly d eposi tedwi th th e appropriate authorities. However there are some major delays in depositing TDS.According to the information and explanation given to us no undisputed amounts payable inrespect of the aforesaid dues were outstanding as at 31 March 2015 for a period of morethan six months form the date of becoming payable. The company is not liable to Providentfund Investor Education and Protection Fund ESI Wealth Tax Custom Duty and Cess ascertified by the company.

b) The disputed dues of the company which are outstanding are as under:

Vat Liability for 2009-10 and 2010-11 Rs.344283/-

8. The accumulated losses of the company are not more than fifty percent of its worthCompany at the end of the financial year under report and has not incurred any cash lossesduring the financial year covered by our audit or in the immediately preceding financialyear.

9. The company has not defaulted in repayment of dues to banks. It does not have anyliabilities towards financial institution or debenture holders.

10. Based on our audit procedures and as per information given to us the Company hasnot given guarantees for loans taken by others from banks or financial institutions.

11. Based on our audit procedures and as per information given to us the company hasnot raised any term loans during the year.

12. In our opinion and according to the information and explanation given to us nofraud on /or by the Company has been noticed or reported during the year that causes thefinancial statement to be materially misstated.

For and on behalf of
Chartered Accountants
Place: Kolhapur FRN:112996 W
Date: 29.05.2015 Sanjay M. Vhanbatte