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BLB Ltd.

BSE: 532290 Sector: Financials
NSE: BLBLIMITED ISIN Code: INE791A01024
BSE LIVE 15:40 | 02 Dec 6.26 0.16
(2.62%)
OPEN

6.19

HIGH

6.30

LOW

5.75

NSE LIVE 15:30 | 02 Dec 6.05 -0.20
(-3.20%)
OPEN

6.90

HIGH

6.90

LOW

5.30

OPEN 6.19
PREVIOUS CLOSE 6.10
VOLUME 35
52-Week high 7.64
52-Week low 2.95
P/E 36.82
Mkt Cap.(Rs cr) 33.12
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.19
CLOSE 6.10
VOLUME 35
52-Week high 7.64
52-Week low 2.95
P/E 36.82
Mkt Cap.(Rs cr) 33.12
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

BLB Ltd. (BLBLIMITED) - Auditors Report

Company auditors report

To the Members of BLB Limited

1. Report on the Standalone Financial Statements

We have audited the accompanying Standalone financial statements of BLB Limited(“the Company”) which comprise the Balance Sheet as at 31st March 2015 theStatement of Profit and Loss and the Cash Flow Statement for the year then ended and asummary of the significant accounting policies and other explanatory information.

2. 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 standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

3. Auditors’ 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 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 misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as evaluating the overall presentation of the financial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

4. 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 March 312015 its profit and its cash flows for the year ended on that date.

5. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 (“theOrder”) issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inthe paragraph 3 and 4 of the Order to the extent applicable.

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 the Statement of Profit & 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 written representations received from the directors as on March312015 taken on record by the Board of Directors none of the Directors is disqualifiedas on 31st March 2015 from being appointed as a Director in terms of Section 164(2) ofthe Act; and

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-Refer Note 29(a)(i) to the 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 M/s RAM RATTAN & ASSOCIATES
Chartered Accountants
(FRN: 004472N)
(RAM RATTAN GUPTA)
Place : New Delhi Partner
Date : 28th May 2015 M. No. 083427

ANNEXURE TO INDEPENDENT AUDITORS’ REPORT

The Annexure referred to in Paragraph 5(1) of our Independent Auditors’ Report tothe members of the Company on the standalone financial statements for the year ended 31stMarch 2015 we report that

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

b) In our opinion the fixed assets have been physically verified by the management atreasonable intervals having regard to the size of the company and the nature of itsassets. No material discrepancies were noticed on such verification.

ii) a) As explained to us the inventories of securities held as stock-in-trade havebeen verified by the management with demat accounts maintained with depositories atreasonable intervals and the Units of Mutual Funds held as Stock-inTrade in demat accountswith the custodians are verified from the statements received from them on a regularbasis.

b) In our opinion and according to the information and explanations given to us theprocedures of verification of inventories followed by the management are reasonable andadequate in relation to the size of the Company and the nature of its business.

c) The company is maintaining proper records of inventory and as explained to us nodiscrepancies were noticed on verification of stocks and book records.

iii) a) The Company has granted unsecured loans to its wholly owned subsidiariescovered in the register maintained under section 189 of the Companies Act 2013.

b) The wholly owned subsidiaries have been regular in the payment of interest to theCompany as stipulated. The terms of arrangements do not stipulate any repayment scheduleand the loans are receivable on demand. Accordingly paragraph 3(iii) (b) of the Order isnot applicable to the Company in respect of receipt of the principal amount.

c) There are no overdue amounts of more than rupees one Lac in respect of loans grantedto the wholly owned subsidiaries listed in the register maintained under section 189 ofthe Companies Act 2013.

iv) In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the company and thenature of its business for the purchase of inventory fixed assets and for the sale ofgoods and services. During the course of our audit we have not observed any continuingfailure to correct major weaknesses in internal control system.

v) According to the information and explanations given to us the company has notaccepted any deposits from the public and as such the requirement of clause (v) ofparagraph 3 of the Order is not applicable.

vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 for any of the activities rendered by theCompany.

vii) a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including Provident Fund Employees’ State Insurance Income-taxWealth Tax Service-tax Cess and any other statutory dues. According to the informationand explanation given to us no undisputed amounts of statutory dues were in arrears as at31-032015 for a period of more than six months from the date they became payable.

b) According to the information and explanation given to us no disputed amountspayable in respect of Income-tax Wealth Tax Service-tax and Cess were in arrears as at31.03.2015.

c) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

viii) The Company does not have any accumulated losses at the end of the financial yearand it has not incurred cash losses in such financial year. However the company hasincurred cash losses during the immediately preceding financial year.

ix) In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to banks and financial institutions.However the company has not issued any debentures during the year.

x) According to the information and explanations given to us the terms and conditionson which the company has given guarantees for loans taken by its subsidiaries from banksare not prejudicial to the interest of the Company.

xi) In our opinion and according to the information and explanations given to us theterm loans have been applied for the purpose for which they were obtained during the year.

xii) According to the information and explanations given to us no fraud on or by thecompany has been noticed or reported during the year.

For M/s RAM RATTAN & ASSOCIATES
Chartered Accountants
(FRN: 004472N)
(RAM RATTAN GUPTA)
Place : New Delhi Partner
Date : 28th May 2015 M. No. 083427

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