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Bharat Bhushan Finance & Commodity Brokers Ltd.

BSE: 511501 Sector: Financials
NSE: N.A. ISIN Code: INE900A01013
BSE LIVE 13:48 | 07 Dec 16.00 -0.80
(-4.76%)
OPEN

16.00

HIGH

16.00

LOW

16.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 16.00
PREVIOUS CLOSE 16.80
VOLUME 200
52-Week high 22.69
52-Week low 9.10
P/E 11.11
Mkt Cap.(Rs cr) 5.41
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.00
Sell Qty 1000.00
OPEN 16.00
CLOSE 16.80
VOLUME 200
52-Week high 22.69
52-Week low 9.10
P/E 11.11
Mkt Cap.(Rs cr) 5.41
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.00
Sell Qty 1000.00

Bharat Bhushan Finance & Commodity Brokers Ltd. (BHARATBHUSHAN) - Auditors Report

Company auditors report

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

Bharat Bhushan Finance & Commodity Brokers Ltd.

(Formerly known as Bharat Bhushan Share & Commodity Brokers Ltd.) Report on theFinancial Statements

We have audited the accompanyingfinancial statements of Bharat Bhushan Finance &Commodity Brokers Ltd. (Formerly Known as Bharat Bhushan Share & Commodity BrokersLtd.) ("the Company") which comprise the Balance Sheet as at March 312015 the Statement of Profit and Loss and Cash Flow Statement for the year then endedand a summary 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 in section134(5) of the Companies Act 2013 (" the Act") with respect to the preparationand presentation of these financial statements that give a true and fair view of financialposition financial performance and cash flow 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)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevantto the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

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 of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis of our audit opinion on thefinancial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaidfinancial statements give the information required by the Act inthe 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 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("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 3of the Order to the extent applicable.

2. As required by Section 143 (3) of the Act we report that: (a) we have sought andobtained all the information and explanations which to the best of our knowledge andbelief 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 sheetthe statement of profit and loss and the cash flow statement dealt with by this Report arein agreement with the books of account; (d) in our opinion the aforesaid financialstatements comply with the Accounting Standards specified under Section 133 of the Actread with Rule 7 of the Companies (Accounts) Rules 2014; (e) on the basis of the writtenrepresentations received from the directors as on 31 March 2015 taken on record by theBoard of Directors none of the directors is disqualified as on31 March 2015 from beingappointed as a director in terms of Section 164 (2) of the Act; and (f) with respect tothe other matters to be included in the Auditor's Report in accordance with Rule 11 of theCompanies (Audit and Auditors) Rules 2014 in our opinion and to the best of ourinformation and according to the explanations given to us the Company has disclosed theimpact of pending litigations on its financial position in its financial statements –Refer Note 2.15 to the financial statements.

For P. BHOLUSARIA & CO.
Chartered Accountants
Firm Registration No.: 000468N
PLACE : Delhi (PAWAN BHOLUSARIA)
DATED : 25\05\2015 PARTNER
(Membership No. 80691)

Annexure to Independent Auditors' Report

(RE: BHARAT BHUSHAN FINANCE & COMMODITY BROKERS LTD.) (Formerly Known as BharatBhushan Share & Commodity Brokers Ltd.)

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the year ended 31 March 2015 we report that: i)Inrespect of its fixed assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b. As explained to us the fixed assets have been physically verified by the managementduring the year which in our opinion is reasonable having regard to the size of theCompany and nature of its assets. No material discrepancies were noticed on such physicalverification.

ii) In respect of its inventories:

a. According to the information and explanations given to us the Inventories have beenphysically verified by the management during the year at reasonable Intervals.

b. In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventory followed by the management are reasonableand adequate in relation to the size of the Company and the nature of its business.

c. The company has maintained the proper records of inventories. Thediscrepanciesnoticed on verification between the physical verification and the book records were notmaterial and have been properly dealt with in the books of accounts.

iii) The Company has neither granted nor taken any loans secured or unsecured to/fromcompanies firms or other parties covered in the register maintained under Section 189 ofthe Companies Act 2013:Accordingly paragraphs 3(iii)(a) and (b) of the order are notapplicable.

iv) In our opinion and according to the information and explanation given to us thereis adequate internal control System commensurate with the size of the Company and thenature of its business for the purchase of inventory fixed assets and also for the saleof goods and services. Further on the basis of our examination and according to theinformation and explanations given to us we have neither come across nor we have beeninformed of any instance of major weaknesses in the aforesaid

Internal Control System.

v) The company has not accepted any deposits from the public. vi) The nature ofbusiness activities is such that clause 3(vi) of Companies (Auditors Report) 2015regarding maintenance of cost record is not applicable to the Company. vii) In respect ofstatutory dues :

a. According to the records of the Company and information and explanation given to usundisputed statutory dues including provident fund Investor education and protectionfund employee state Insurance Income Tax Sales Tax Wealth Tax Service Tax Customduty Excise duty Cess and other statutory dues to the extent applicable have beenregularly deposited with the appropriate authorities. There are no undisputed amountpayable in respect of the aforesaid dues which were outstanding as at 31st March 2015 fora period of more than six months from the date of becoming payable.

b. According to the information and explanation given to us there are no dues ofIncome Tax/Sales Tax/ Wealth tax/Service Tax/ Custom tax/excise duty /Cess outstanding onaccount of any dispute. viii) The Company has not any accumulated losses and also notincurred any cash losses during the financial year covered by our audit or in theimmediately preceding financial year. ix) As the Company has not any outstanding dues offinancial institutions banks or debenture holders during the year. x) According theinformation and explanation given to us during the year the company has not given anyguarantee for loans taken by others from banks or financial Institutions. xi) According tothe information and explanation given to us during the year the Company has not obtainedany term Loan.

xii) In our opinion and according to the information and explanation given tous nofraud on or by the Company has been noticedor reported during the year nor we have beeninformed of such case by management.

For P. BHOLUSARIA & CO.
Chartered Accountants
Firm Registration No.: 000468N
PLACE : Delhi (PAWAN BHOLUSARIA)
DATED : 25\05\2015 PARTNER
(Membership No. 80691)

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