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BCL Enterprises Ltd.

BSE: 539621 Sector: Financials
NSE: N.A. ISIN Code: INE368E01015
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BCL Enterprises Ltd. (BCLENTERPRISES) - Auditors Report

Company auditors report

To The Members of

BCL Enterprises Limited

1 Report on the Financial Statements

We have audited the accompanying financial statements of BCL Enterprises Limited whichcomprise the Balance Sheet as at 31 March 2015 and the Statement of Profit and Loss andCash Flow Statement of the Company for the year ended on that date and a summary ofsignificant accounting policies and other explanatory information ("financialstatements").

2 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 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 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.

3 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 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 to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors 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 on the financial statements.

4 Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31 March 2015 and its profit and its cash flows for the year ended on that date.

5 Report on Other Legal and Regulatory Requirements

a) As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

b) As required by section 143(3) of the Act we report that:

(i) we have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of our audit;

(ii) 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;

(iii) 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;

(iv) in our opinion the Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with the Standards Specified under section 133 of the Companies Act2013 read with the Rule 7 of the Companies (Accounts) Rules 2014.

(v) On the basis of the written representations received from the directors as on 31March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164(2) of the Act.

(vi) 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 does not have any pending litigations which would impact its financialposition;

ii. The Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses; and

iii. There were no amounts which were required to be transferred to the InvestorEducation and protection fund

For R.K.Rathi & Co.

CHARTERED ACCOUNTANT

Firm Registration No: 010695N

Sd/-

R.K.Rathi

PROPRIETOR

(M.No. 086189)

Annexure referred to in paragraph 5 of the Independent Auditor’s Report to theMembers of BCL Enterprises Limited on the financial statements for the year ended 31 March2015

1. (a) The company has maintained proper records of fixed Assets showing fullparticulars including quantitative details and situation thereof

(b) According to the information and explanations given to us the Company has aregular programme of physical verification of its fixed assets by which fixed assets areverified in a phased manner over a period of three years. In accordance with thisprogramme certain fixed assets were verified during the year. As informed to us nomaterial discrepancies were noticed on such verification. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

2. The Company is a Non-Banking Financial Company (NBFC) primarily engaged in thelending business and does not hold any physical inventories. Accordingly paragraph 3 (ii)of the Order is not applicable to the Company.

3. According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to the Companies firms or other parties coveredin the register maintained under Section 189 of the Act. Accordingly paragraph 3 (iii) ofthe Order is not applicable

4. In our opinion and according to the information and explanation given to us duringthe course of our audit there are adequate internal control procedures commensurate withthe size of the Company and the nature of its business of trading in shares andsecurities. During the course of our audit no major weakness has been noticed in theinternal controls.

5. According to the information and explanations given to us the Company has notaccepted any deposits during the year

6. According to the information and explanations given to us the Central Governmenthas not prescribed the maintenance of cost records under Section 148(1) of the Act forany of the business activities carried out by the Company.

7. (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company the provisions of Provident Fund ActInvestor Education and Protection Fund Employees State Insurance Sales Tax Wealth TaxCustoms Duty Excise Duty and cess etc. are not applicable to the Company. The Company isregular in depositing its statutory dues in respect of Income Tax with the appropriateauthorities.

According to the information and explanations given to us no undisputed amountspayable in respect of Income tax and other material statutory dues were in arrears as at31 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 there are no disputeddues of Income tax which have not been deposited with the appropriate authorities.

(c) As explained to us the Company did not have any dues on account of InvestorEducation and Protection Fund.

8. The Company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year

9. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to its bankers. The Company did not haveany outstanding dues to any financial institution or debenture holders during the year.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from banks or financial institutions.

11. The Company did not have any term loan outstanding during the year

12. According to the information and explanations given to us by the management nofraud on or by the Company has been noticed or reported during the course of our audit.

For R.K.Rathi & Co.

CHARTERED ACCOUNTANT

Firm Registration No: 010695N

Sd/-

R.K.Rathi

PROPRIETOR

(M.No. 086189)

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