You are here » Home » Companies » Company Overview » Brahmanand Himghar Ltd

Brahmanand Himghar Ltd.

BSE: 590081 Sector: Others
NSE: N.A. ISIN Code: INE318G01015
BSE LIVE 12:16 | 28 Feb Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.08
PREVIOUS CLOSE 4.29
VOLUME 1
52-Week high 5.60
52-Week low 2.90
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.08
Sell Qty 999.00
OPEN 4.08
CLOSE 4.29
VOLUME 1
52-Week high 5.60
52-Week low 2.90
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.08
Sell Qty 999.00

Brahmanand Himghar Ltd. (BRAHMAHIMGHAR) - Auditors Report

Company auditors report

TO THE MEMBERS OF

M/S. BRAHMANAND HIMGHAR LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying Standalone financial statements of M/s. BRAHMANANDHIMGHAR LIMITED which comprise of the Balance Sheet as at 31st March 2016 the Statement of Profit and Loss and the Cash Flow Statement for the year then endedand a summary of significant accounting policies and other explanatory information.

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 preparation andpresentation of these standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including Accounting Standardsspecified under section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgements and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial control 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and 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 anddisclosures in the financial statements. The procedures selected depend on the auditor sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders 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 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 31st March 2016 and its Profit and Cash Flow for the year ended on thatdate.

Emphasis Of Matter

The company has disposed of one of its Cold Storages which constitutes a substantialparts of its tangible assets affecting the operation of the company. However as explainedto us the management is in the process of operating the other cold storage owned by thecompany in full swing and accordingly the sale of cold storage this year is not likely toaffect the going concern status of the company.

Our opinion is not qualified in respect of this matter.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor s Report) Order2016 ( the Order ) issued bythe

Central Government of India in terms of sub-section (11) of section 143 of the Act wegive in Annexure-A a statement on the matters specified in the paragraph 3 and 4 of theOrder to the extent applicable.

2. The company is registered with Reserve Bank of India as Non Banking Finance CompanyVide Registration No B-05.02695 dt 09.08.2001. Additional Particulars as required byReserve Bank of India under Non- Systemically Important Non-Banking Financial (Non-DepositAccepting or Holding) Companies Prudential Norms (Reserve Bank) Directions2015 areattached under separate Annexure I to the Financial Statements.

3. 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 and the Statement of Profit and Loss and Cash Flow dealt with bythis Report are in agreement with the books of account;

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

e. On the basis of written representations received from the directors as on 31stMarch2016 taken on record by the Board of Directors none of the directors aredisqualified as on 31st March 2016 from being appointed as a director interms of Section 164(2) of the Act and

f. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in ANNEXURE-B ;

g. 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 knowledge and belief and according to the information andexplanations given to us ;

i) The Company has no pending litigations as at 31st March 2016.

ii) The Company has no material foreseeable losses on long term contracts includingderivative contracts as on 31st March 2016.

iii) There has been no amount required to be transferred to the investor Education andProtection fund by the Company during the year ended 31st March 2016.

For KHANDELWAL PRAJAPATI & CO.
Chartered Accountants
Firm Registration No. 313154E
PLACE : KOLKATA (SAMIR KUMAR POLAI)
DATED : May 30 2016 Partner
Membership No. - 303724

Annexure-A referred to in our Independent Auditors Report to the members of the Companyon the standalone financial statements for the year ended 31 March 2016.

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

b) The Fixed Assets have been physically verified by the Management at reasonableintervals during the year and no material discrepancies have been noticed on suchverification. c) According to the information & explanations given to us and on thebasis of our examination of the records of the Company the title deed of immovableproperty is held in the name of the Company.

ii) The company has no opening and closing inventory. Hence Paragraph 3(ii) of theOrder is not applicable.

iii) The Company has not granted any loan to parties covered in the register maintainedunder Section 189 of the Companies Act2013.Hence Sub Clause (a)(b) & (c) ofParagraph 3(iii) are not applicable.

iv) In our opinion and according to information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Act with respectto loans and investments made.

v) The Company has not accepted any deposits from the public within the meaning ofsections 73 and 74 of the Act and the rules framed there under to the extent notified.

vi) In our opinion and according to the information and explanation given to us thecompany s activities do not require maintenance of any cost records.

vii) a)According to the information and explanations provided to us and as per therecords of the Company examined by us in our opinion the Company is regular indepositing undisputed statutory dues including income tax provident Fund and otherstatutory dues as applicable to it with the appropriate authorities.

b)As explained to us and the records of the company examined by us there are nodisputed statutory dues which have not been deposited. viii) According to the records ofthe company examined by us and the information and explanation given to us the companyhas not defaulted in repayment of dues to any financial institution or bank or debentureholders as at the balance sheet date.

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

x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

xi) According to the information and explanation given to us and based on ourexamination of the records of the Company the Company has paid /provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofSection 197 read with Schedule V of the Act.

xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly Paragraph 3(xii) of the Order is notapplicable.

xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with Sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv) According to the information and explanations given to us and based on ourexamination 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 the information and explanations given to us and based on ourexaminations of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with them. Accordingly paragraph 3(xv)of the Order is not applicable.

xvi) The company is a registered Non-Banking Financial Company u/s 45-IA of the ReserveBank of India Act1934 obtained the Certificate of Registration.

For KHANDELWAL PRAJAPATI & CO.
PLACE : KOLKATA Chartered Accountants.
Firm Registration No. 313154E
DATED : May 30 2016 (SAMIR KUMAR POLAI)
Partner
Membership No. -303724

Annexure B to the Auditors Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013.

We have audited the internal financial controls over financial reporting of M/S.BRAHMANAND HIMGHAR LIMITED ( the Company ) as of March 31 2016 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

Management s Responsibility for Internal Financial Controls.

The Company s Management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note of Audit of Internal Financial Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to the Company s policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act2013 (: the Act ).

Auditor s Responsibility

Our responsibility is to express an opinion on the Company s internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance

Note on Audit of Internal Financial Controls Over Financial Reporting (the GuidanceNote ) and the Standards on Auditing as specified under section 143(10) of the Act to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor s judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the internal financial control system overfinancial reporting.

Meaning of Internal Financial Controls Over Financial Reporting.

A Company s internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A Company s internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company. (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of theCOMPANY S assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting.

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected. Alsoprojections of any evaluation of the internal financial controls over financial reportingto future periods are subject to the risk that the internal financial control overfinancial reporting may become inadequate because of changes in conditions or that thedegree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 312016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

Explanatory paragraph

We also have audited in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India as specified under Section 143(10) of theAct the standalone financial statements of Company which comprise the Balance Sheet asat March31 2016 and the related Statement of Profit and Loss and Cash Flow Statementfor the year then ended and a summary of significant accounting policies and otherexplanatory information and our report dated May 302016 expressed unqualified opinion.

For KHANDELWAL PRAJAPATI & CO.
Chartered Accountants.
Firm Registration No. 313154E
(SAMIR KUMAR POLAI)
PLACE : KOLKATA Partner
DATED : 30/05/2016 Membership No. -303724