You are here » Home » Companies » Company Overview » Balmer Lawrie Investment Ltd

Balmer Lawrie Investment Ltd.

BSE: 532485 Sector: Financials
NSE: N.A. ISIN Code: INE525F01017
BSE LIVE 15:40 | 06 Dec 384.80 0.75
(0.20%)
OPEN

387.95

HIGH

395.00

LOW

380.10

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 387.95
PREVIOUS CLOSE 384.05
VOLUME 16484
52-Week high 395.00
52-Week low 248.00
P/E 22.06
Mkt Cap.(Rs cr) 854.26
Buy Price 0.00
Buy Qty 0.00
Sell Price 384.80
Sell Qty 742.00
OPEN 387.95
CLOSE 384.05
VOLUME 16484
52-Week high 395.00
52-Week low 248.00
P/E 22.06
Mkt Cap.(Rs cr) 854.26
Buy Price 0.00
Buy Qty 0.00
Sell Price 384.80
Sell Qty 742.00

Balmer Lawrie Investment Ltd. (BALMERLAWINV) - Auditors Report

Company auditors report

To the Members of "BALMER LAWRIE INVESTMENTS LIMITED"

REPORT ON THE FINANCIAL STATEMENTS

1) We have audited the accompanying financial statements of Balmer LawrieInvestments Limited which comprise the Balance sheet as at March 31st2015 the Statement of Profit & Loss and Cash Flow Statement for the year the endedand a summary of significant accounting policies and other information.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENT

2) The Management and Board of Directors of the company are responsible for the mattersstated in Section 134(5) of the Companies Act 2013 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 includes maintenance of adequate accounting records in accordance with theprovisions of the Act for safeguarding the assets of the Company and for preventing anddetecting 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

3) Our responsibility is to express an opinion on these financial statements based onour audit. We have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provisions of the Act and the Rules made there under. We conducted our audit inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

4) An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error in making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances but not for the purposeof expressing an opinion on whether the Company has in place an adequate internalfinancial controls system over financial such controls. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company’s management and Board of Directors as well asevaluating the overall presentation of the financial statements.

5) We believe that the audit evidence we have obtained is sufficientand appropriate toprovide a basis for our audit opinion.

OPINION

6) 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 its profit/loss and its cash flow for the year ended on that date

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

7) As required by the Companies (Auditor’s Report) Order 2015 (lithe 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 4 and5 of the Order.

8) As required by section 143(3) of the Act we further 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 & 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 31st2015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31st 2015 from being appointed as a director in terms of Section164(2) of the Act.

f) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014:

(i) The company has disclosed the impact of pending litigations on its financialposition in its financial statements - Refer Note. 13 of the financial statements.

(ii) The company did not have any long term contracts including derivate contracts andas such the question of commenting on any material foreseeable losses thereon does notarise.

(iii) The company has transferred such amount which was required to be done to theInvestor Education and Protection Fund on time.

9) As required by Section 143(5) of the Companies Act 2013 we further report onDirections of the Comptroller and Auditor General of India as under:

Sl. No. Description Auditor’s Comments
1. If the Company has been selected for disinvestment a complete status report in terms of valuation of Assets (including intangible assets and land) and Liabilities (including Committed & General Reserves) may be examined including the mode and present stage of disinvestment process. Not Applicable.
2. Please report whether there are any cases of waiver/ write off of debts/ loans/ interest etc. if yes the reasons therefore and amount involved. There were no such case reported during the audit period.
3. Whether proper records are maintained for inventories lying with third parties & assets received as gift from Govt or other authorities. The Company does not have any fixed assets/ inventories. maintenance of records/ registers for assets including inventory is not required.
4. A report on age-wise analysis of pending legal/arbitration cases including the reasons of pendency and existence/ effectiveness of a monitoring mechanism for expenditure on all legal cases (foreign and local) may be given. As per the information and explanation received by the management no such cases are pending.

 

For S. K. Naredi & Co.
Chartered Accountants
Firm Registration No : 003333C
Rashmi Chhawchharia
Place : Kolkata (Partner)
Date : 27th May 2015 Membership No. : 401727

Annexure referred to in Paragraph 7 of our Report of even date to the members of BalmerLawrie Investments Limited on the accounts of the company for the year ended 31st March2015.

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

1. There are no Fixed Assets in the Company; hence this clause is not applicable.

2. There are no Inventory in the Company and as such this clause is not applicable.

3. According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not granted loans secured orunsecured to companies firms or other parties covered in the register maintained underSection 189 of the Companies Act 2013. Therefore the provision of this clause of theCompanies (Auditor’s Report) Order2015 is not applicable to the Company.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories fixed assets andexamination of the books and records of the company and according to the information andexplanation given to us no major weaknesses in the internal controls has been noticed.

5. The Company has not accepted any deposits covered under section 73 to 76 or anyother relevant provisions of the Companies Act 2013 and the rules framed there under.

6. As per information & explanation given by the management maintenance of costrecords has not been prescribed by the Central Government under sub-section (1) of section148 of the Companies Act 2013.

7. (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 undisputedstatutory dues including Investor Education and Protection Fund income tax and any othermaterial Statutory dues as applicable with the appropriate authorities and no statutorydues as on 31st of March 2015 was outstanding for a period of more than sixmonths from the date they became payable.

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no dues of income tax and other statutory dueswhich have not been deposited on account of any disputes except the following:

Name of the Statute Nature of Dues Amount in Rs. Period to which the amount relates Forum where dispute is pending
Income Tax Act1961 Demand under section 143(3) dt. 26.10.2010 295530.00 A.Y.2008-09 CIT (Appeals) Kolkata

(c) There has been no delay in transfer of sums to the Investor Education andProtection Fund during the year covered under audit.

8. The company has no accumulated losses and the company has not incurred cash lossesduring the financial year covered by our audit and the immediately preceding financialyear.

9. According to the records of the company examined by us and as per the informationand explanation given to us the company has not availed of any loans from any financialinstitution or banks and has not issued debentures.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loan taken by others from a bank or financial institution duringthe year.

11. In our opinion and according to the information and explanation given to us thecompany has not raised any term loans during the year 12. During the course of ourexamination of the books of records of the company carried in accordance with the auditingstandards generally accepted in India we have neither come across any instance of fraudon or by the Company noticed or reported during the year nor have we been informed of suchinstance by the management.

For S. K. Naredi & Co.
Chartered Accountants
Firm Registration No : 003333C
Rashmi Chhawchharia
Place : Kolkata (Partner)
Date : 27th May 2015 Membership No. : 401727

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard