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Belapur Industries Ltd.

BSE: 507050 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE490D01019
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Belapur Industries Ltd. (BELAPURINDS) - Auditors Report

Company auditors report

To The Members of Belapur Industries Ltd Report on the Financial Statements

We have audited the accompanying Financial Statements of Belapur Industries Ltd(’the Company1) which comprise the Balance Sheet as at 31st March 2016the Statement of Profit and Loss and the Cash Flow Statement for the year ended and asummary 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 insertion134(5) of the Companies Art 2013 ("the Art") with respect to the preparationand presentation of these Financial Statements to give a true and fair view of theFinancial Position Financial Performance and Cash Flows of the Company in accordance withthe Accounting Principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Art read with Rule 7 of the Companies (Accounts)Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Art for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; makingjudgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the FinancialStatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors' Responsibility

I. Our responsibility is to express an opinion on these Financial Statements based onour audit.

II. We have taken into account the provisions of the Art 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.

III. We conducted our audit in accordance with the Standards on Auditing specifiedunder Section 143(10) of the Art and other applicable authoritative pronouncements issuedby the Institute of Chartered Accountants of India. Those Standards and pronouncementsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the Financial Statements are free from materialmis-statement.

IV. An audit involves performing procedures to obtain audit evidence about the amountsand the disclosures in the Financial Statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of materia mis-statement ofthe Financial Statements whether due to fraud or error. In making those risk assessmentsthe Auditor considers Internal Financial Control relevant to the Company's preparation ofthe Financial Statements that give a true and fair view in order to design auditprocedures 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 as well asevaluatingthe overall presentation of the Financial Statements.

V. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Financial Statements.

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;

1. In the case of the Balance Sheet of the State of Affairs of the Company as at 31stMarch 2016

2. In the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

3. In the case of the Cash Flow Statement of the Cash Flows for the year on that datReport on Other Legal and Regulatory Requirements

I. 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 Section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraph 3and 4 of the Order to the extent applicable.

II. 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 purposes of our audit.

b. In our opinion proper books of account as required by law have been kept

by the Company so faras 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 2016.

e. On the basis of the written representations received from the Directors as on 31stMarch 2016 taken on record by the Board of Directors none of the Directors isdisqualified as on 31st March 2016 from being appointed as a Director in terms ofSection 164 (2) of the Act; and

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 2016 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 as on 31st March 2016on its financial position in its Financial Statements

ii) The Company has made provision as at 31st March 2016 as required under theapplicable law or Accounting Standards for material foreseeable losses if any onlong-term contracts including derivative contracts

iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company during the year ended 31stMarch 2016.

For N.S Naik & Co. CA M.P Naik
Chartered Accountants Partner
F.No. 106815W M.No.144531
Place:- Shrirampur
Date:- 30/05/2016

COMPANIES AUDITORS’ REPORT

Belapur Industries Ltd For the year 2015-16

On the basis of such checks as we considered appropriate and in terms of theinformation and explanations given we state that:-

I) a) The Company has generally maintained records showing particulars includingQuantitative details and situation of fixed assets; as stated by management but no recordsavailable for verification.

b) As explained by the management the fixed assets have been physically verified by themanagement at reasonable interval and no material discrepancies were found.

c) Title deeds of immovable properties are held in the name of the company as explainedby

the management . .

ii) a) There is no Physical verification in respect of finished goods stores spareparts and raw

materials as there was no stock of the same with the Com pa ny du ri ng the yea r. b)Inventory records is not maintained as there was no physical stocks during the year.

iii) 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 Act.

iv) In our opinion and according to the information and explanations given to uscompany has not granted any loan has not made any investment and has not issued anyguarantee or security this clause is notapplicabletothecompany.

v) in our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public during the year nor hasacceptedanysuchdepositsinthepast.

vi) The company is not engage in manufacturing activity hence provision regarding

maintenance of cost records under Section 148 (1) of the Companies Act 2013 for theproducts ofthe Company in not applicable .

vii) a) The company is regular in depositing undisputed statutory dues includingprovident fund employees state insurance income-tax sales tax Service tax duty ofcustoms duty of excise Value added tax Cess and any other statutory dues with theappropriate authorities.

b) The company has no statutory dues remaining unpaid on account of any dispute.

viii) The company has not taken loan from any financial institutions nor with any bankof which terms and conditions are prejudicial to the interest of the company and there isno case of default in repayment of dues..

ix) Company has not raised money by way of Initial public offer or further publicoffer. The

Company has not taken any Term loan during the year.

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

xi) Managerial remuneration have been paid or provided according to the provisions ofsection 197 read with schedule v ofthe Companies Act

xii) As company is not registered as a Nidhi Company this clause is not applicable tothe company.

xiHJ in our opinion and accordingto the information and explanations given to us all

transactions with related parties are in compliance with section 177and 188 ofCompanies

Act 2013

xiv) Company has not made any preferential allotment or private placement of shares orfully or partly convertible debentures during the year

xv) In our opinion and according to the information and explanations given to uscompany has not entered into any non cash transaction with directors or persons connectedwith him

xvi) Company is not required to get registration under section 45-IA of the ReserveBank of Act 1934.

For N.S Naik & Co. CA M.P Nalk
Chartered Accountants Partner
F.No. 106815W M.No.144531
Place:- Shrirampur
Date:- 30/05/2016