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Birla Shloka Edutech Ltd.

BSE: 511607 Sector: Services
NSE: N.A. ISIN Code: INE814E01018
BSE LIVE 15:01 | 06 Dec 2.10 -0.08
(-3.67%)
OPEN

2.08

HIGH

2.20

LOW

2.08

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.08
PREVIOUS CLOSE 2.18
VOLUME 16528
52-Week high 5.00
52-Week low 2.08
P/E
Mkt Cap.(Rs cr) 4.40
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.10
Sell Qty 3387.00
OPEN 2.08
CLOSE 2.18
VOLUME 16528
52-Week high 5.00
52-Week low 2.08
P/E
Mkt Cap.(Rs cr) 4.40
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.10
Sell Qty 3387.00

Birla Shloka Edutech Ltd. (BIRLASHLOKA) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

BIRLA SHLOKA EDUTECH LIMITED

Report on the Standalone Financial Statements

We have audited accompanying financial statements of BIRLA SHLOKA EDUTECH LIMITED ("theCompany") which comprise the Balance Sheet as at March 312015 the Statement ofProfit and Loss Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

Management’ 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 standalone 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 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 of 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 relevant to the preparation and presentation ofthe financial 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 standalone financial statementsbased on our audit.

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 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 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 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 in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31 March 2015 and its loss 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 paragraphs 3 and4 of the said 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 purpose 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 Cash Flow Statement dealtwith by this report are in agreement with the books of account.

d) In our opinion the aforesaid Standalone Financial Statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e) On the basis of the written representations received from the directors as on March312015 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312015 from being appointed as a director in terms of Section 164(2) of theAct.

(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 does not have any pending litigation which would impact financialposition.

(ii) The Company did not have any long-term contracts including derivative contractsfor which there were any material foreseeable losses.

(iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For Jai Prakash Upadhayay & Co.
Chartered Accountants
Firm Registration Number: 125073W
Jai Prakash Upadhayay
Proprietor
Membership No: 116778
Place: Mumbai
Date: May 28 2015

ANNEXURE TO THE AUDITOR’S REPORT

(Referred to in paragraph 1 under Report on Other Legal and Regulatory Requirementssection of our report of even date on the accounts of BIRLA SHLOKA EDUTECH LIMITED forthe year ended March 312015)

(i) (a) The Company has generally maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) As informed and explained to us all Fixed Assets have been physically verified bythe management during the year and no material discrepancies were noticed on suchverification.

(ii) (a) As explained to us inventories were 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 weregenerally reasonable and adequate in relation to the size of the company and the nature ofits business;

In our opinion and according to the information and explanations given to us andrecords produced before us the company is maintaining proper records of its inventoriesand no material discrepancy has been observed by the management during the course ofverification;

(iii) The Company has granted unsecured loan to companies covered in the registermaintained under section 189 of the Companies Act 2013 aggregating to Rs.194499583 andthe number of parties involved are 06. For detail refer Note No. 31 of the Notes onFinancial Statement; and

a) The principle amount and interest are still recoverable and

b) Considering the nature of loan granted i.e. receivable on demand loan can not beoverdue and accordingly this clause is not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to usthere exists an adequate internal control system commensurate with the size of the Companyand the nature of its business with regard to purchase of inventory fixed assets and withregard to the sale of goods and services. During the course of our audit we have notobserved any continuing failure to correct major weaknesses in internal control system ofthe Company.

(v) The company has accepted deposits after duly complied with the provisions of theCompanies Act 1956 and there is no contraventions of the provisions of the Companies Act2013 and erstwhile Companies Act 1956. However as per the provisions of the CompaniesAct 2013 the Company was required to repay all the deposits accepted by it prior to thecommencement of the Companies Act 2013 on or before 31/3/2015. Due to financialconstraints the Company has filed a petition before the Hon’ble Company Law Boardunder Section 74 (2) of the Companies Act 2013 seeking extension of time to repaydeposits and the matters is pending before the Hon’ble Company Law Board.

The Company has received an Order Dt. 14th October 2014 passed by Company Law BoardMumbai Bench. Based on the records and information provided the said Order has beencomplied with.

(vi) According to the information and explanations given to us the CentralGovernment has not prescribed maintenance of cost records under sub-section (1) of section148 of the Companies Act 2013.

(vii) (a) According to the records of the Company the Company is generally regularin depositing undisputed statutory dues including Provident Fund Employees’ StateInsurance Income-Tax Sales-Tax Wealth Tax Service Tax Customs Duty Excise Dutyvalue added tax cess and any other statutory dues with the appropriate authorities duringthe year.

(b) According to the information and explanations given to us except Sales tax duesthere are no other dues of Income Tax/Service tax/Customs duty/Excise duty/Cess whichhave not been deposited on account of any dispute; The Details of Sales Tax dues are asfollows ;

Accounting Year

Amount Rupees

Authority before which the matter is pending
2009-10

34905325/-

Tribunal Sales Tax Department

(c) According to the records of the Company there are no amounts required to educationand protection fund in accordance with the relevant provisions of Section 125 of theCompanies Act 20l3and the rules framed there under are not applicable.

(viii) The Company’s accumulated losses at the end of the financial year arenot more than fifty percent of its net worth. The Company did not incurred cash loss incurrent year as well as in previous year.

(ix) In our opinion and according to the information and explanations given to usthe Company has not defaulted in repayment of dues to a financial institution bank ordebenture holders.

(x) According to the information and explanations given to us and the recordexamined by us the Company has not given any guarantee for loans taken by others frombank or financial institutions the terms and conditions whereof are prejudicial to theinterest of the company

(xi) Based on information and explanations given to us by the management theCompany has not taken any term loan hence clause 3 (xi) of the Order is not applicable tothe Company.

(xii) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud on or by the Company noticed or reported during the year nor have webeen informed of any such case by the management.

For Jai Prakash Upadhayay & Co.
Chartered Accountants
Firm Registration Number: 125073W
Jai Prakash Upadhayay
Proprietor
Membership No: 116778
Place: Mumbai
Date: May 28 2015

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