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Bijlee Textiles Ltd.

BSE: 512313 Sector: Others
NSE: N.A. ISIN Code: INE368F01012
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Bijlee Textiles Ltd. (BIJLEETEXTILES) - Auditors Report

Company auditors report

TO THE MEMBERS

Bijlee Textiles Limited

I have audited the accompanying standalone financial statements of BIJLEE TEXTILESLIMITED ("the Company") which comprise the Balance Sheet as at 31st March2016 the Statement of Profit and Loss the Cash Flow Statement for the year ended and asummary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone 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 preparation ofthese stand alone 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 133of 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 and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that Ire 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 :

My responsibility is to express an opinion on these standalone financial statementsbased on my audit. I have taken in to account the provisions of the Act the accountingand auditing standards and Matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.

I conducted my audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that I 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 mis-statement 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 Ill asevaluating the overall presentation of the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the standalone financial statements.

Opinion :

In my opinion and to the best of my information and according to the explanations givento me the aforesaid standalone financial statements give the information required by theAct in the manner so required and give a true and fair view inconformity with theaccounting principles generally accepted in India

(i) in the case of the Balance sheet of the state of affairs of the company as atMarch 31 2016;

(ii) in the case of the Statement of Profit and Loss of the profit for the year endedon that date; and

(iii) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements :

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act I give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act I report that:

a) I have sought and obtained all the information and explanations which to the best ofmy Knowledge and belief were necessary for the purposes of my audit;

b) In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my 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 my opinion the afore said standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule7 of theCompanies (Accounts) Rules 2014;

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 of Section164(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 my opinionand to the best of my information and according to the explanations given to us:

i) The Company has disclosed the impact of pending litigations on its financialposition in its financial statements.

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) There has been delay of 164 days in transferring amounts of Rs 465/- required tobe transferred to the Investor Education and Protection Fund by the Company.

For A. M. Modi & Associates
FRN : 106476W
Chartered Accountants
(CA. Ashok M. Modi)
Properietor
Surat dated: May 30 2016 Membership No. 034904

Annexure referred to in Point 1 of Report on Other Legal and Regulatory Requirements ofmy report of even date on the accounts for the year ended 31st March 2016

i. The Company has no fixed assets hence paragraphs (i)(a) (b) and (c) of the Orderare not applicable

ii. As per the information and explanations given to me the inventories have beenphysically verified by the management at reasonable intervals during the year and In myopinion no discrepancies noticed on physical verification of inventory.

iii. The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnership or other parties covered in the register maintained underSection 189 of the Companies Act 2013 Accordingly paragraphs (iii)(a) and (b) of theOrder are not applicable.

iv. In my opinion and according to the information and explanations given to me theCompany has complied with the provisions of section 185 and 186 of the Act with respect tothe loans and investments made.

v. The Company has not accepted any deposits from public.

vi. The Central Government has not prescribed maintenance of cost records under section148(1) of the Companies Act 2013 for any of the products of the Company.

vii. a) According to information and explanations given to me the Company is generallybeen regular in depositing undisputed statutory dues as applicable with the appropriateauthorities during the year.

b) According to information and explanation given to me there are no statutory dues asapplicable which have not been deposited on account of any dispute.

viii. The Company has not taken any loans or borrowings from any financial institutionsor banks or governments or debenture holders. Accordingly paragraph 3(viii) of the orderis not applicable.

ix. The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3(ix) of the order is not applicable.

x. According to information and explanations given to me no fraud by the Company orany fraud on the company by its officers or employees has been noticed or reported duringthe year.

xi. According to information and explanations given to me and based on the examinationsof the records of the Company No managerial remunerations has been paid or provided bythe Company during the year.

xii. In my opinion and according to information and explanations given to me theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the order is notapplicable.

xiii. According to information and explanations given to me and based on theexaminations of the records of the Company transactions with the related party are incompliance with section 177 and 188 of the Companies Act 2013 and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv. According to information and explanations given to me and based on theexaminations of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv. According to information and explanations given to me and based on the examinationsof the records of the Company the Company has not entered into any non-cash transactionswith any directors or persons connected with him. Accordingly paragraph 3(xv) of the orderis not applicable.

xvi. In my opinion the Company is not required to be registered under section 45-IA ofthe Reserve Bank of India Act 1934.

For A. M. Modi & Associates
FRN : 106476W
Chartered Accountants
(CA. Ashok M. Modi)
Proprietor
Surat dated: May 30 2016 Membership No. 034904