The Members of .
Atlanta Devcon Limited Ahmedabad
Report on Financial Statement
We have audited the accompanying financial statements of Atlanta Devcon Ltd ("theCompany'') which comprise the Balance Sheet as at March 31 2015 and the Statement ofProfit and Loss for the year then ended and a summary of significant accounting policiesand other explanatory information.
Management's Responsibility for the Financial Statement
Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position and financial performance of the Company inaccordance with the Accounting Standards referred to in sub-section (3C) of section 211 ofthe Companies Act 1956 ("the Act"). This responsibility includes the designimplementation 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.
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 requirements and plan and perform the audit to obtain reasonable assurance aboutwhether 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 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 control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit 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 March31 2015; and
b) in the case of the Profit and Loss Account of the loss for the year ended on thatdate;
Report on the Legal & 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 far as appears from our examination of those books
c) the Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account.
d) in our opinion the Balance Sheet and Statement of Profit and Loss comply with theAccounting Standards referred to in subsection (3C) of section 211 of the Companies Act1956
in respect of accounting for employee bebefits as required by AS 15 (Revised) issued byThe Institute of Chartered Accountants of India.
e) On the basis of written representations received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956.
f) Since the Central Government has not issued any notification as to the rate at whichthe cess is to be paid under section 441A of the Companies Act 1956 nor has it issued anyRules under the said section prescribing the manner in which such cess is to be paid nocess is due and payable by the Company.
| ||For Praful N. Shah & Co. |
| ||Chartered Accountants |
| ||FRN: 108057W |
| ||(Praful N Shah) |
|Place: Ahmedabad ||(Proprietor) |
|Date: 15/05/2015 ||M.No.015591 |