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Blue Pearl Texspin Ltd.

BSE: 514440 Sector: Others
NSE: N.A. ISIN Code: INE439N01015
BSE LIVE 14:03 | 23 Aug Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.31
PREVIOUS CLOSE 2.20
VOLUME 8079
52-Week high 3.05
52-Week low 2.00
P/E 115.50
Mkt Cap.(Rs cr) 1.18
Buy Price 2.31
Buy Qty 618.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.31
CLOSE 2.20
VOLUME 8079
52-Week high 3.05
52-Week low 2.00
P/E 115.50
Mkt Cap.(Rs cr) 1.18
Buy Price 2.31
Buy Qty 618.00
Sell Price 0.00
Sell Qty 0.00

Blue Pearl Texspin Ltd. (BLUEPEARL) - Auditors Report

Company auditors report

To

The Members of

BLUE PEARL TEXSPIN LIMITED

(FORMERLY KNOWN AS E-WHA FOAM INDIA LIMITED)

Report on the Financial Statement

We have audited the accompanying financial statement of Blue Pearl Texspin Ltd(Formely E-Wha Foam (India) Ltd) ("the Company") which comprise the BalanceSheet as at March 31 2015 and the statement of Profit & Loss and Cash Flow Statementfor the year ended and the summary of significant accounting policies and otherexplanatory information.

Management’s Responsibility for the Financial Statement

The Management and Board of Directors of the Company are responsible for the mattersstated in Section 134(5) of the Companies Act 2013 (‘the act") with respect tothe preparation of these financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe Accounting principles generally accepted in India including Accounting Standardsspecified under section 133 of the Act read with rule 7 of Companies (Accounts) Rules2014. This responsibility 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; design implementation and maintenance of adequate internal financial controlsthat are operating effectively for ensuring the accuracy and completeness of 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 theprovisions of the Act and the rules made thereunder. We conducted our audit in accordancewith the standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirement and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement offinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company’s preparation ofthe financial statements that give a true and fair view in order to design auditprocedures that are appropriate in 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 accounting policies used and the reasonablenessof the accounting estimates made by Company’s management and Board of Directors aswell as evaluating the overall presentation of the financial statements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fare view in conformity with the accountingprinciples generally accepted in India: (a) In the case of the Balance Sheet of the stateof affairs of the Company as at March 31 2015; (b) In the case of Profit & LossAccount of the profit of the Company for the year ended on that date; and (c) In the caseof the Cash Flow Statement of the cash flows for the year ended on that date.

Report on Other Legal and regulatory Requirements

1. As required by required by the Companies (Auditor’s Report) Order2015("the Order") issued by Central Government of India in terms of sub-section (11)of section 143 of the Act we give in the Annexure a statement on the matters specified inparagraph 3 & 4 of the Order.

2. As required by section 143(3) of the Act we further 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 appears from our examination of those books;

(c) The Balance Sheet Statement of Profit and Loss Account and Cash Flow Statementdealt with this report are in agreement with the books of Accounts;

(d) In our opinion Balance Sheet Statement of Profit and Loss Account and Cash FlowStatement comply with the applicable Accounting Standards specified under Section 133 ofthe Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

(e) On the basis of written representation 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 the directors in terms of Section 164(2) ofthe Act;

(f) 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 11 of the Companies (Audit & Auditors)Rules 2014:

1. The Company does not have any pending litigation which would impact its financialposition.

2. The company did not have any long-term contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise.

3. There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education & Protection Fund. The question ofdelay in transferring such sums does not arise.

For C.P.Jaria & Co
Chartered Accountants
Sd/-
(P.K.Jain)
Partner
Date : 27/05/2015 M.No 112020
Place : Mumbai FRN : 104058W

Annexure referred to in paragraph 1 of our report of even date to the members of BluePearl Texspin Ltd (Formely E-Wha Foam India Ltd) on the accounts of the company for theyear ended 31.03.15 On the basis of such checks as we considered appropriate andaccordingly to the information and explanations given to us during the course of ouraudit we report that:

1. The company has maintained proper records showing full particulars includingquantitative details and location of all its fixed assets. During the year the managementhas physically verified all the fixed assets and no material discrepancies have beennoticed on such verification. During the year the company has not disposedoff substantialpart of its fixed assets.

2. The Company does not hold any inventory at year end. The management has donephysical verification of inventory during the year at reasonable intervals and theprocedure followed by management is reasonable and adequate in relation to size of thecompany and the nature of Business. Company has maintained proper records of inventory andno major discrepancies were noticed on physical verification.

3. The company has not granted any loans secured or unsecured to/from companies firmsor other parties covered in the register maintained under section 189 of the Act.

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business with regard to the purchase of inventory fixed assets and withregard to the sale of goods. During the course of our audit no major weakness has beennoticed in the internal controls.

5. The Company has not accepted any deposits from the public covered under section 73to 76 of the Companies Act 2013.

6. As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act.

7. (a) According to the information and explanations given to us and on basis of ourexamination of the books of accounts the company has been generally regular in depositingundisputed statutory dues including Provident fund Employee’s state insuranceIncome Tax sales Tax Wealth Tax Service Tax Custom Duty Excise Duty cess and otherstatutory dues as applicable with the appropriate authorities in India;

(b) According to information and explanations given to us and based on the records ofthe company examined by us there are no dues of Income Tax Wealth tax Service TaxSales tax Custom Duty and excise duty which have not been deposited on account of anydisputes;

(c) There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education & Protection Fund. The question ofreporting delay in transferring such sums does not arise.

8. The Company does have accumulated losses exceeding 50% of its net worth and it hasnot incurred cash losses during the financial covered by our audit and in the immediatelypreceding financial year.

9. Based on our audit procedure and on the information and explanations given by themanagement we are of the opinion that the company has not availed any loans from anyfinancial institution or banks and has not issued debentures during the year.

10. According to the information and explanations given to us the company has notgiven any guarantee for loans taken by others from bank and financial institutions duringthe year.

11. According to the information and explanations given to us the company had notraised any term loan during the year.

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

For C.P.Jaria & Co
Chartered Accountants
Sd/-
(P.K.Jain)
Partner
Date : 27/05/2015 M.No 112020
Place : Mumbai FRN : 104058W

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