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Bharat Textiles & Proofing Industries Ltd.

BSE: 531029 Sector: Industrials
NSE: N.A. ISIN Code: INE201N01019
BSE LIVE 10:17 | 03 Jul Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 10.65
PREVIOUS CLOSE 11.21
VOLUME 300
52-Week high 10.65
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6.24
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.65
Sell Qty 2900.00
OPEN 10.65
CLOSE 11.21
VOLUME 300
52-Week high 10.65
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6.24
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.65
Sell Qty 2900.00

Bharat Textiles & Proofing Industries Ltd. (BHARATTEXTILES) - Auditors Report

Company auditors report

To the Members of M/s Bharat Textiles and Proofing Industries Limited.

Report on the Financial Statements

We have audited the accompanying financial statements of Bharat Textiles and ProofingIndustries Limited which comprise the Balance Sheet as at March 31 2015 and theStatement of Profit and Loss and Cash Flow Statement for the year then-ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors are responsible for the matters stated n section134(5) of the Companies Act 2013 with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with 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 of 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.

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 the.provisions 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. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

b) in the case of the Profit and Loss Account of the profit for the year ended on thatdate; and

c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

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 (II) of section143 ofthe Act we give in the Annexure a statement on the matters Specified in paragraphs 3 and4 of the Order.

2. As required by section 143(3) of the Act we report that

a) we have obtained all the information and explanations which to the best of ourknowledge 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 Balance Sheet Statement of Profit and Loss and Cash FlowStatement 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 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 the company has adequate internal financial control system in placeand also the operating effectiveness of such controls exists.

g) 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 I I of the Companies (Audit and Auditors)Rules2014:

i The Company does not have any pending litigations which would impact its financialposition;

ii The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts

iii. The company was not required to transfer any sum to the Investor Education andProtection Fund during the year under report

For Sakaria & Associates
Chartered Accountants
FRN: 6219 S
Ashok Kumar S
Place : Chennai Proprietor
Date : 30th May2015 Membership No. :202048

The Annexure referred to in paragraph I of the Our Report of even date to the membersof M/s Bharat Textiles and Proofing Industries Limited on the accounts of the company forthe year ended 31st March 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

1. (a ) The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

2. (a) As explained to us inventories have been physically verified during the year bythe management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of inventories by the management as compared to records.

3. According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not granted any loans secured orunsecured to companies firms or other parties listed in the register maintained underSection 189 of the Companies Act 2013. Consequently the provisions of clauses iii (a)and iii (b) of the order are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories and fixed assetsand for the sale of goods and services. During the course of our audit no major instanceof continuing failure to correct any weaknesses in the internal controls has been noticed.

5. The Company has not accepted any deposits hence the directives issued by Reservebank of India and the provisions of sections 73 to 76 or any other relevant provisions ofthe Companies Act 2013 are not applicable to the company.

6. The Central government has not specified maintenance of cost records for the Companyunder sub — section (I) of section 148 of the Companies act 2013.

7. (a ) The company is regular in depositing undisputed statutory dues includingProvident Fund Investor Education and Protection Fund Employees' State InsuranceIncome-tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty cess to theextent applicable and any other statutory dues with the appropriate authorities except onfew occasions where minor irregularities were noticed. According to the information andexplanations given to us there were no outstanding statutory dues as on 31st ofMarch 2015 for a period of more than six months from the date they became payable.

(b) The Company has no dues of income tax wealth tax service tax customs dutyexcise duty; value added tax or cess which has not been deposited on account of anydisputes.

(c) The Company has no amount which is required to be transferred to investor educationand protection fund in accordance with the relevant provisions of the Companies Act 1956.

8. The accumulated losses at the end of the financial year are more than fifty percentof its net worth.The Company has not incurred cash loss during the financial year coveredby our audit and in the immediately preceding financial year.

9. The Company has not defaulted in repayments of dues to a financial institution bankor debenture holders.

10. According to the information and explanations given to us the Company has notgiven any guarantees for loan taken by others from a bank or financial institution.

11. The Term loan raised by Company was applied for the purpose for which it has beenraised.

12. Based on the audit procedures performed and the information and explanations givento us we report that no fraud on or by the Company has been noticed or reported duringthe year nor have we been informed of such case by the management.

For Sakaria & Associates
Chartered Accountants
FRN: 6219 S
Ashok Kumar S
Place : Chennai Proprietor
Date : 30th May 2015 Membership No.:202048

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