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Betex India Ltd.

BSE: 512477 Sector: Industrials
NSE: N.A. ISIN Code: INE765L01017
BSE LIVE 15:41 | 08 Dec 46.50 1.75
(3.91%)
OPEN

46.50

HIGH

46.50

LOW

46.50

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 46.50
PREVIOUS CLOSE 44.75
VOLUME 150
52-Week high 88.00
52-Week low 38.75
P/E 7.29
Mkt Cap.(Rs cr) 6.98
Buy Price 46.50
Buy Qty 115.00
Sell Price 0.00
Sell Qty 0.00
OPEN 46.50
CLOSE 44.75
VOLUME 150
52-Week high 88.00
52-Week low 38.75
P/E 7.29
Mkt Cap.(Rs cr) 6.98
Buy Price 46.50
Buy Qty 115.00
Sell Price 0.00
Sell Qty 0.00

Betex India Ltd. (BETEXINDIA) - Auditors Report

Company auditors report

To

The Members of

BETEX INDIA LIMITED

Surat

Report on the Financial Statements

We have audited the accompanying financial statements of BETEX INDIA LIMITED SURATwhich comprise the Balance Sheet as at March 31 2015 the Statement of Profit andLoss and Cash Flow Statement for the year then ended and a summary of significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

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 records relevants to the preparation and presenting of the financial statementsthat give a true and fair view and are free from material misstatements whether due tofraud or error.

Auditor’s Responsibility

Our responsibihty is to express an opinion on these financial statements based on ouraudit e have taken into account the provisions of the Act the accounting and auditingstandards and matters are which 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 Standard require that we comply with ethical requirements and plan & perform theAudit to abtain resonable assurance about whether the fiancial statements are free frommaterial misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial s atements 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 reporting and the operating effectiveness of suchcontrols. An audit also includes evaluating the appropriateness of accounting policiesused and the reasonableness of the accounting estimates made by the Company’smanagement and Board of Directors 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.

Opinion

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 flows for the year ended on that date.

We Report that:

1 As required by the Companies (Auditor’s Report) Order 2015 issued by theCentral Government of India in terms of sub-section (11) of section 143 of the Act wegive in the Annexure a statement on the matters Specified in paragraphs 3 and 4 of theOrder

2. 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 and 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 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of Section 164(2) of theAct

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 does not have any pending litigations which would impact its financialposition.

ii. The Company did not have any long-term contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise.

iii. There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. Therefore the questionof delay in transferring such sums does not arise.

FOR B. CHORDIA & CO.
CHARTERED ACCOUNTANTS
F.R.N. 121083W
CA. B.C. CHORDIA
Partner Place : Surat
M.N. 048557 Date : May 30 2015

BETEX INDIA LIMITED

The Annexure referred to in our report to the members of BETEX INDIA LIMITED forthe year Ended on March 31 2015 We report that:

i. a) As per the information provided to us and based on our verification the Companyhas maintained proper records showing full particulars including quantitative details andsituation of fixed assets

b) As explained to us fixed assets have been physically verified by the management atregular intervals; as informed to us no material discrepancies were noticed on suchverification.

ii.

a) As informed to us physical verification of inventory has been conducted atreasonable intervals by the management.

b) In our opinion the procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the company and thenature of its business.

c) The company is maintaining proper records of inventory The discrepancies noticed onphysical verification were not material and these have been properly dealt with in booksof accounts.

iii. a) The company has granted unsecured loan/advances of Rs. 446.85 Lacs to companieslirms or other parties covered in the register maintained under section 189 of the Act.

b) As per information given to us receipt of the principal amount and interest are asper decided by management.

c) The company has taken reasonable steps to recover the loan whose overdue amount isexceeding Rs. 1 Lakh.

iv. In our opinion and according to the information and explanations given to us thereis adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of fixed assets and for the sale of services.Further on the basis of our examination of the books and records of the Company andaccording to the information and explanations given to us no major weakness has not beennoticed or reported.

v. The Company has not accepted any deposits from the public covered under Section 73to 76 of the Companies Act 2013.

vi. We have broadly reviews the books of accounts maintained by the Company pursuant tothe rule made by the Central Government of maintenance of cost records under sub-section(1) of Section 148 of the Act. We are of the opinion that the prima facie the prescribedaccounts and records have been made and maintained. However we have not made a detailedexamination of the records.

a) According to the information and explanations given to us and based on the recordsof the company examined by us the company is regular in depositing the undisputedstatutory dues including Provident Fund Employees’ State Insurance Income-taxSales-tax Wealth Tax Service Tax Custom Duty Excise Duty and other material statutorydues as applicable with the appropriate authorities in India

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 Wealth Tax Service TaxSales Tax Customs Duty and Excise Duty which have not been deposited on account of anydisputes.

c) There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. The question ofreporting delay in transferring such sums does not arise.

viii. The Company has no accumulated losses and has not incurred cash losses in thecurrent financial year and in the immediately preceding financial year.

ix. According to the records of the company examined by us and as per the informationand explanations given to us the company has not defaulted in any repayment of dues tofinancial institution or banks or debentures holders.

x. In our opinion and according to the information and explanations given to us theCompany has not given any guarantee for loan taken by others from a bank or financialinstitution during the year.

xi. In our opinion and according to the information and explanations given to us theterm loan taken by the Company were applied for the purpose it had been obtained.

xii. During the course of our examination of the books and records of the companycarried in accordance with the editing standards generally accepted in India we haveneither come across any lnsurance of fraud on or by the Company noticed or reported duringthe course of our audit nor have we been informed of any such instance by the Management.

FOR B. CHORDIA & CO.
CHARTERED ACCOUNTANTS
F.R.N. 121083W
CA. B.C. CHORDIA
Partner Place : Surat
M.N. 048557 Date : May 30 2015

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