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Atlas Jewellery India Ltd.

BSE: 514394 Sector: Industrials
NSE: N.A. ISIN Code: INE022N01019
BSE LIVE 11:51 | 08 Dec 61.25 1.20
(2.00%)
OPEN

61.25

HIGH

61.25

LOW

61.25

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 61.25
PREVIOUS CLOSE 60.05
VOLUME 1704
52-Week high 61.25
52-Week low 15.00
P/E
Mkt Cap.(Rs cr) 616.48
Buy Price 61.25
Buy Qty 26102.00
Sell Price 0.00
Sell Qty 0.00
OPEN 61.25
CLOSE 60.05
VOLUME 1704
52-Week high 61.25
52-Week low 15.00
P/E
Mkt Cap.(Rs cr) 616.48
Buy Price 61.25
Buy Qty 26102.00
Sell Price 0.00
Sell Qty 0.00

Atlas Jewellery India Ltd. (ATLASJEWELLERY) - Auditors Report

Company auditors report

TO THE MEMBERS OF

ATLAS JEWELLERY INDIA LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of Atlas Jewellery IndiaLimited ("the Company") which comprises the Balance Sheet as at 31st March2016 the Statement of Profit and Loss and Cash Flow Statement for the year then endedand a summary 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 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 rule 7 of Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent;design implementation and maintenance of adequate internal financial controls that areoperating 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.

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 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 a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall 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 on the financial statements.

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 2016 its profit/loss 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 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section143 ofthe Act we give in the Annexure a statement on the matters Specified in paragraphs 3 and4 of the Order to the extent applicable.

2. 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 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 those books;

(c) The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account;

(d) In our opinion the aforesaid financial statements comply with the applicableAccounting 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 directors as on March 312016 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of Section 164(2) of theAct.

(f) with respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest of 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 derivative contractsfor which 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 A. KAY. MEHRA & CO.

Chartered Accountants

(Registration No. 050004C)

Sd/-

DEEPAK SUNEJA

Partner

Membership No. 501957

Place: New Delhi

Date: April 23 2016

ANNEXURE TO THE INDEPENDENT AUDITORS REPORT

The annexure referred to in our Independent Auditor's Report to the members of AtlasJewellery India Limited ('the company') on the financial statements for the year ended31st March 2016

On the basis of such checks as we considered appropriate and according to theinformation and explanations given to us during the course of our audit we report that:

(i) In respect of fixed assets:

(a) The Company has maintained proper records showing full particulars including aquantitative details and situation of fixed assets;

(b) As explained to us fixed assets have been physically verified by the management atregular intervals which in our opinion is reasonable having regard to the size of thecompany and nature of its assets. No material discrepancies were noticed on such physicalverification;

(c) As explained to us no immovable property are held in the name of the company.

(ii) In respect of its inventories:

(a) The Inventories of the Company have been physically verified by the management atreasonable intervals during the year;

(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 andnature of its business;

(c) The Company has maintained proper records of inventory. The discrepancies betweenphysical stocks and the book stocks which have been properly dealt with were notmaterial.

(iii) The Company has not granted any loan secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Companies Act2013.

(iv) Company has not made any loans investments guarantees and security as per theprovision of section 185 and 186 of the Companies Act 2013.

(v) The Company has not accepted any deposits from the public covered under Section 73to 76 of the Companies Act 2013.

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 for the trading activities carried out by thecompany.

(vii) (a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing the undisputedstatutory dues including Provident Fund Employees' State Insurance Income-taxSales-tax Wealth Tax Service Tax Duty of Custom Duty of Excise Value Added Tax Cessand other material statutory dues as applicable with the appropriate authorities;

According to the information and explanations given to us the undisputed amountspayable in respect of Income Tax were outstanding as at 31st March 2016 for a period ofmore than six months from the date of becoming payable for Rs 556120/-(AY 2010-11- Rs416100 and AY 2012-13 - 140020) ;

(b)According to the information and explanations given to us there are no materialdues of sales tax or wealth tax or service tax or duty of customs or duty of excise orvalue added tax or cess which have not been deposited with the appropriate authorities onaccount of any dispute.

(c) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

(viii) Based on our audit procedures and according to the information and explanationgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto financial institutions banks Government or dues to debentures holders.

(ix) The Company has made any initial public offer.

(x) According to the information and explanations given to us no instance of fraud onor by the Company has been noticed or reported during the course of our audit.

(xi) Managerial Remuneration paid by the company is as per the provision of section 197read with Schedule V to the Company Act 2013.

(xii) The nature of the company is not Nidhi Company. So this clause is not applicableto the company.

(xiii) The Company has not made any related party transactions prescribed with theprovision of section 177 and 188 of the Companies Act 2013.

(xiv) The Company has not made any preferential allotment or private allotment ofshares.

(xv) The Company has not entered in any non-cash transactions with the directors orpersons connected with him as per the provision of section 192 of Companies Act 2013.

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India 1934.

For A. KAY. MEHRA & CO.

Chartered Accountants

(Registration No. 050004C)

Sd/-

DEEPAK SUNEJA

Partner

Membership No. 501957

Place: New Delhi

Date: April 23 2016

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