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Ausom Enterprise Ltd.

BSE: 509009 Sector: Financials
NSE: AUSOMENT ISIN Code: INE218C01016
BSE LIVE 15:40 | 06 Dec 28.70 1.05
(3.80%)
OPEN

28.80

HIGH

29.50

LOW

27.00

NSE LIVE 15:31 | 06 Dec 28.75 1.75
(6.48%)
OPEN

26.20

HIGH

31.90

LOW

26.20

OPEN 28.80
PREVIOUS CLOSE 27.65
VOLUME 1182
52-Week high 30.00
52-Week low 17.55
P/E 9.90
Mkt Cap.(Rs cr) 39.09
Buy Price 0.00
Buy Qty 0.00
Sell Price 28.70
Sell Qty 466.00
OPEN 28.80
CLOSE 27.65
VOLUME 1182
52-Week high 30.00
52-Week low 17.55
P/E 9.90
Mkt Cap.(Rs cr) 39.09
Buy Price 0.00
Buy Qty 0.00
Sell Price 28.70
Sell Qty 466.00

Ausom Enterprise Ltd. (AUSOMENT) - Auditors Report

Company auditors report

To the Members of Ausom Enterprise Limited Report on the Financial Statements

We have audited the accompanying financial statements of Ausom Enterprise Limited ("theCompany") which comprise the Balance Sheet as at 31st March 2015 the Statement ofProfit and Loss the Cash Flow Statement for the year then ended and a summary ofsignificant 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 the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of 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; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingsrecords 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 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 thefinancial statements whether due to fraud or error.

In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the financial statements that give a true andfair view in order to design audit procedures that are appropriate in the circumstancesbut not for the purpose of expressing an opinion on whether the Company has in place anadequate internal financial controls system over financial reporting and the operatingeffectiveness of such controls. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Company's Directors as well as evaluating the overall 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 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 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 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 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 necessaryfor 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.

c. The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e. On the basis of written representations received from the directors as on 31' March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31st March 2015 from being appointed as a director in terms of section 164(2) of theAct.

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 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 financialposition by way of Note 35 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 which were required to be transferred to the InvestorEducation and Protection Fund bythe Company.

PLACE : AHMEDABAD For. C.R. SHAREDALAL & CO.
DATE : 10-08-2015 CHARTERED ACCOUNTANTS
(Registration No.109943W)
(C. R. SHAREDALAL)
PARTNER
Membership No.002571

Annexure to Independent Auditors' Report

[Referred to in Paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date]

1. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) Fixed assets were physically verified during the year by the management inaccordance with a program of verification which in our opinion is reasonable havingregard to the size of the company and the nature of assets. According to the informationand explanations given to us no discrepancies were noticed on such verification.

2. (a) As explained to us inventories have been physically verified by the managementduring the year at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventory followed by the management are reasonableand adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion and according to the information and explanations given to us theCompany is maintaining proper records of inventory. According to the information andexplanations given to us no discrepancies were noticed on physical verification ofinventories as compared to book records.

3. The Company has not granted any loans secured or unsecured to Companies firms orother parties covered in the Register maintained under section 189 of the Companies Act2013. Therefore provisions of clause 3(iii) of the order are not applicable to theCompany.

4. In our opinion and according to the information and explanations given to us thereis adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. Further on the basis of our examination of the books of account andrecords of the Company and according to the information and explanation given to us wehave neither come across nor have been informed of any continuing failure to correct majorweaknesses in the internal control system.

5. In our opinion and according to the information and explanation given to us theCompany has not accepted deposits during the year and does not have any unclaimeddeposits. Therefore the provisions of the clause 3(v) of the order are not applicable tothe Company.

6. According to the information and explanation given to us the maintenance of costrecords has not been prescribed under sub-section (1) of Section 148 of the Companies Act2013.

7. (a) According to the information and explanations given to us and on the basis ofour examination of the books of account the company has been generally regular indepositing undisputed statutory dues including Provident Fund Employees' State InsuranceIncome-tax Value Added Tax Wealth Tax Custom duty Excise duty Service Tax Cess andany other dues whichever is applicable during the year with the appropriate authoritiesand no undisputed dues payable in respect of outstanding statutory dues were in arrears asat 31' March 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us as at 31' March2015there are no amounts in respect of sales tax/ income tax/ custom duty/ wealth tax/ exciseduty/ service tax/ cess that 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.

8. The accumulated losses of the Company as at the end of the year are not more thanfifty percent of its net worth. The company has not incurred cash losses in the current aswell as in the immediately preceding financial year.

9. In our opinion and according to the information and explanation given to us and onthe basis of our examination of the books of account the company has not defaulted inrepayment of dues to financial institution and banks.

10. In our opinion and according to the information and explanation given to us thecompany has not given any guarantee for loan taken by others from banks and financialinstitutions.

11. During the period under audit the company has not obtained any term loan; hencethe provisions of clause (xi) of paragraph 3 of the Order are not applicable to thecompany.

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

PLACE : AHMEDABAD For. C.R. SHAREDALAL & CO.
DATE : 10-08-2015 CHARTERED ACCOUNTANTS
(Registration No.109943W)
(C. R. SHAREDALAL)
PARTNER
Membership No.002571

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