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Brawn Biotech Ltd.

BSE: 530207 Sector: Others
NSE: N.A. ISIN Code: INE899B01015
BSE LIVE 15:40 | 07 Dec 53.65 -2.25
(-4.03%)
OPEN

54.00

HIGH

56.00

LOW

53.15

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 54.00
PREVIOUS CLOSE 55.90
VOLUME 1747
52-Week high 63.95
52-Week low 31.00
P/E 34.39
Mkt Cap.(Rs cr) 16.10
Buy Price 0.00
Buy Qty 0.00
Sell Price 53.15
Sell Qty 640.00
OPEN 54.00
CLOSE 55.90
VOLUME 1747
52-Week high 63.95
52-Week low 31.00
P/E 34.39
Mkt Cap.(Rs cr) 16.10
Buy Price 0.00
Buy Qty 0.00
Sell Price 53.15
Sell Qty 640.00

Brawn Biotech Ltd. (BRAWNBIOTECH) - Auditors Report

Company auditors report

TO THE MEMBERS OF BRAWN BIOTECH LIMITED

Report on the Financial Statements

We have audited the accompanying standalone financial statements of Brawn BiotechLimited - Formely Known as Brawn Pharmaceuticals Limited - (“the company”)whichcomprise the Balance Sheet as at 31 March 2015 the Statement of Profit and Loss the CashFlow Statement for the year then ended and a summary of significant accounting policiesand other explanatory information.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) ofthe Companies Act 2013 (“the Act”) with respect to the preparation of thesestand alone financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing 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 into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunderthe provisions of the Act and the Rules made thereunder.

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's preparation ofthe financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances. An audit also includes evaluatingthe appropriateness of the accounting policies used and the reasonableness of theaccounting estimates made by Company's Directors as well as evaluating the overallpresentation 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 in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st march 2015 and its Profit & Loss and its 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 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 the paragraph 3and 4 of the Order to the extent applicable.

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 pur 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 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2)oftheAct.

f) With respect to the other matters to be included in the Auditor's Report inaccordance to Rule 11 of the Company's (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 15 to the financial statements.

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

iii. There has been no amount required to be transfered to the Investor Education andProtection Fund by the Company.

For Satinder Saini & Co (Satinder Kumar Saini)
Place; New Delhi Chartered Accountants Proprietor
Date: 29.05.2015 Registration No. 008834N M. No.87357

Annexure to the Auditors Report

Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order tothe extent applicable.

(I (a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) These fixed assets have been physically verified by the management at reasonableintervals and no material discrepancies were noticed on such verification.

(ii) (a) The company is maintaining proper records of the inventory. Physicalverification of inventory has been conducted at reasonable intervals by the management; nomaterial discrepencies were noticed on such verification

(b) The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(iii) The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the CompaniesAct.

(iv) There is an adequate internal control" system commensurate with the size ofthe company and the nature of its business for the purchase of inventory and fixed assetsand for the sale of goods and services.

(v) The company has not accepted any deposits from the public.

(vi) The maintenance of cost records as specified by the Central Government undersub-section (1) of section 148 of the Companies Act is not applicable to the company;

(vii) (a) According to the information and explanations given to us and on the basis ofour examinations of the records of the company amounts deducted / accrued in the books ofaccounts in respect of undisputed statutory dues including provident fund income taxsales tax wealth tax service tax duty of customs value added tax cess and othermaterial statutory dues have been regularly deposited during the year by the company withthe appropriate authorities. As explained to us the company did not have any dues onaccount of employees state insurance and duty of excise.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax wealth tax service tax dutyof customs value added tax cess and other material statutory dues were in arrears as at31st march 2015 for a period of more than six months from the date they become payable.

(c) According to the information and explanations given to us no amount was required tobe transferred to investor education and protection fund in accordance with the relevantprovisions of the Companies Act 1956 ( 1 of 1956) and rules made thereunder.

(viii) The company has been registered for a period not less than five years there isno accumulated losses at the end of the financial year and it has not incurred cash lossesin current financial year and in the immediately preceding financial year.

(ix) The company has not defaulted in repayment of dues to a financial institution orbank or debenture holders.

(x) Accoring to the information and explanations given to us the company has not givenany guarantee for loans taken by others from bank or financial institutions.

(xi) According to the information and expalantions given to us the Term loans wereapplied for the purpose for which the loans were obtained.

(xii) According to the information and expalantions given to usNo fraud on or by thecompany has been noticed or reported during the year.

For Satinder Saini & Co (Satinder Kumar Saini)
Place: New Delhi Chartered Accountants Proprietor
Date: 29.05.2015 Registration No. 008834N M. No.87357

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