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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

We have audited the accompanying standalone financial statements of BIJLEE TEXTILESLIMITED ("the Company") which comprise the Balance Sheet as at 31st March2015 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 were operating effectively for ensuring the accuracy and completeness ofthe accounting 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 :

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We 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.

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 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 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 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 aforesaid standalone financial statements give the information requiredby the Act 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 2015;

(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 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.

2. 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 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 2015

taken on record by the Board of Directors none of the directors is disqualified as on31st March 2015 from being appointed as a director in terms of 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 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 no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For Bipinchandra J. Modi & Co.
FRN : 101521W
Chartered Accountants
(CA. Bipin J. Modi)
Partner
Surat dated: May 05 2015 Membership No. 031687

Annexure referred to in Point 1 of Report on Other Legal and Regulatory Requirements ofour report of even date on the accounts for the year ended 31st March 2015

i. The Company has no fixed assets hence paragraphs (i)(a) and (b) of the Order arenot applicable

ii. a) As per the information and explanations given to us the inventories have beenphysically verified by t the management at reasonable intervals during the year.

b) In our opinion and as per the information and explanations given to us proceduresof physical verification of inventory followed by the management are reasonable andadequate in relation to the size of the Company and nature of its business.

c) The Company is maintaining proper records of inventories. In our opiniondiscrepancies noticed on physical verification of inventory were not material in relationto the operations of the Company and the same have been properly dealt with in the booksof account.

iii. a) The Company has not granted any loans secured or unsecured to/from companiesfirms or other parties covered in the register maintained under Section 189 of theCompanies Act 2013 paragraphs (iii)(b) of the Order is not applicable.

iv. In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the Companyand nature of its business for the purchase of inventory and with regard to the sale ofgoods. During the course of our audit we have not observed any continuing failure tocorrect major weaknesses in internal control.

v. The Company has not accepted any deposits from the 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 us 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 us there are no statutory dues asapplicable which have not been deposited on account of any dispute.

c) According to information and explanation given to us the amount required to betransferred to investor education and protection Fund in accordance with the provisions ofCompanies Act1956 and rules made there under have been transferred by the Company withintime.

viii. The Company does not have accumulated losses as at 31st March 2015. The Companyhas incurred cash losses during the current and the immediately preceding financial year.

ix. The Company has not taken any loans from financial institutions or banks ordebenture holders and hence the question of default in repayment of dues and the periodand amount does not arise.

x. 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.

xi. The Company has not taken any term loan during the current year.

xii. To the best of our knowledge and belief and according to the information andexplanations given to us no fraud on or by the Company was noticed or reported during theyear.

For Bipinchandra J. Modi & Co.
FRN : 101521W
Chartered Accountants
(CA. Bipin J. Modi)
Partner
Surat dated: May 05 2015 Membership No. 031687

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