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Bentley Commercial Enterprises Ltd.

BSE: 512195 Sector: Financials
NSE: N.A. ISIN Code: INE496M01017
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Bentley Commercial Enterprises Ltd. (BENTLEYCOMMERC) - Auditors Report

Company auditors report

To

The Members of

Bentley Commercial Enterprises Limited

Report on the Standalone Financial Statements

1. We have audited the accompanying standalone financial statements of BentleyCommercial Enterprises Limited (" the Company") which comprise the BalanceSheet as at 3Rl March 2015 the Statement of Profit and Loss the Cash FlowStatement for the year then ended and a summary of the significant accounting policiesand other explanatory information.

Managements Responsibility for the Standalone Financial Statements

2. 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the company andfor preventing & detecting fraud & other irregularities; selection and applicationof appropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting 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.

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 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.

4. An audit involves performing procedures lo 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 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 operative effectiveness of such controls.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by Company’s directors as well asevaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the accompanying standalone financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 31st March 2015 and its profit and its cash flows for the yearended on that date.

Report on Other Legal & regulatory Requirements

6. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act. we give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the order.

7. 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 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 standalone financial statements comply with theAccounting 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 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a Director in termsof Section 164(2) of the Act.

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 no pending litigations.

ii. The Company does not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For and on behalf of
B. L. Dasharda & Associates
Chartered Accountants
F.R. No.: 112615W
Sushant Mehta
Place : Mumbai Partner
Dated : 29th May 2015 M.No. : 112489

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

(Referred to in paragraph 6 under the heading of "Report on Other Legal andRegulatory

Requirements" section of our report of even date)

1 The provisions of clause 3(i) of the Order is not applicable to the company since thecompany does not have any Fixed Assets.

2 The provisions of clause 3(ii) of the Order is not applicable to the company sincethe company does not have any inventory of goods.

3. As informed to us the company has not granted any loans secured or unsecured toCompanies firms and other parties covered in the register maintained under Section 189 ofthe Act.

4. In our opinion and according to the information and explanations given to us havingregard to the explanations that some of the items purchased are of special nature andsuitable alternative sources are not readily available for obtaining comparablequotations there is an adequate internal control system commensurate with the size of theCompany and the nature of its business with regard to income by way of Commission &purchase of investments. During the course of our audit we have not observed anycontinuing failure to correct major weaknesses in internal control systems.

5. In our opinion and according to the information and explanations given to us. theCompany has not accepted deposits during the year and dues not have any unclaimeddeposits. Therefore the provisions of clause 3 (v) of the Order are not applicable to thecompany.

6. The provisions of clause 3(vi) of the Order is not applicable to the company as thecompany is not covered by the Companies ( Cost Records & Audit) Rules 2014.

7. a) According to the records of the Company there were no undisputed amounts payablein respect of Income Tax Sales Tax. Wealth Tax Custom Duty Excise Duty and Service Taxwhich have remained outstanding as at the last day of financial year for a period of morethan six months from the date they became payable.

b) There is no disputed amounts payable in respect of Income Tax Sales Tax WealthTax Custom Duty Excise Duty and Service Tax.

c) The company has been regular in transferring amounts to the Investor Education andProtection Fund in accordance with the relevant provisions of the Companies Act 1956 andRules made thereunder within time.

8. The Company does not have accumulated losses as at the end of the financial year andhas not incurred cash losses in the current financial year and in the immediatelypreceding financial year.

9. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto financial institutions or banks during the year and does not have any amountoutstanding to debenture holders.

10. In our opinion and according to the information and explanations given to us theCompany has not given any guarantees for loans taken by others from banks or financialinstitutions

11. In our opinion and according to the information and explanations given to us thecompany has not availed any term loans during the year.

12. During the course of our examination of books and records of the Company carriedout in accordance with the generally accepted auditing practices in India and accordingto the information and explanations given to us we have neither come across any instanceof material fraud on or by the Company noticed or reported during the year nor have webeen informed of such case by the management.

For and on behalf of
B. L. Dasharda & Associates
Chartered Accountants
F.R. No.: 112615W
SD/
Sushant Mehta
Place : Mumbai Pa rtner
Dated: 29th May 2015 M.No.: 112489

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