The Members of
BANSAL ROOFING PRODUCTS LIMITED
Reports on the Financial Statements
We have audited the accompanying financial statements of BANSAL ROOFING PRODUCTSLIMITED which comprise the Balance Sheet as at 31st March 2014 and the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and- a summary ofsignificant accounting policies and other explanatory information.
Managements Responsibility for the Financial Statements
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 notified under the Companies Act 1956 ("theAct") read with the General Circular 15/2013 dated 13th September 2013 of theMinistry of Corporate Affairs in respect of section 133 of the Companies Act 2013. Thisresponsibility includes the design implementation and maintenance of internal controlrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material 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 theauditors 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 control relevant to the Companys preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the entitys internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial 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 atMarch 31 2014; and
(b) in the case of the Statement of Profit and Loss of the loss for the year ended onthat date.
(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order 2003 ("theOrder") issued by the
Central Government of India in terms of sub-section (4A) of section 227 of the Act wegive in the Annexure a statement on the matters specified in paragraphs 4 and 5 of theOrder.
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 so far as appears from our examination of those books;
(c) the Balance Sheet and Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account;
(d) in our opinion the Balance Sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards notified under the Companies Act 1956("the Act") read with the General Circular 15/2013 dated 13th September 2013 ofthe Ministry of Corporate Affairs in respect of section 133 of the Companies Act 2013;and
(e) on the basis of written representations received from the directors as on March 312014 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2014 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956 agreement with the books ofaccount
For SANTLAL PATEL & CO.
Firm Reg. No. 113888W
C.A. SANTLAL C. PATEL
Memb. No. 047612
Place : Vadodara
Date : 22/08/2014