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Chambal Breweries & Distilleries Ltd.

BSE: 512301 Sector: Others
NSE: N.A. ISIN Code: INE417N01011
BSE LIVE 15:40 | 24 Mar 9.30 0.29
(3.22%)
OPEN

9.11

HIGH

9.50

LOW

8.50

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.11
PREVIOUS CLOSE 9.01
VOLUME 2112
52-Week high 16.54
52-Week low 7.52
P/E 310.00
Mkt Cap.(Rs cr) 6.97
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.30
Sell Qty 2105.00
OPEN 9.11
CLOSE 9.01
VOLUME 2112
52-Week high 16.54
52-Week low 7.52
P/E 310.00
Mkt Cap.(Rs cr) 6.97
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.30
Sell Qty 2105.00

Chambal Breweries & Distilleries Ltd. (CHAMBALBREWER) - Auditors Report

Company auditors report

To

The Members of

CHAMBAL.BREWERIES & DISTILLERIES LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. CHAMBAL BREWERIES &DISTILLERIES LIMITED (the "company ") which comprise the Balance Sheet asat March 312016 the Statement of Profit and Loss aid Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

The Company's Hoard of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect t o tiie preparationand presentation of these financial statements that give a true and lair view of thefinancial position financial performance and cash flows of the Company In accordance withthe accounting 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 ol adequate accounting recordsIn accordance with the provisions of the Act lor safeguarding the assets ol the Companyand lor 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 o' adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation olthe financial statements that give a true arid fair viewandare free from materialmisstatement whether due to fraud or error.

Auditors' 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 Acta nd the Rules madethereunder.

We conducted our audit in accordance with tire Standards on Auditing specified underSection 143(10) ol the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements arc free from materia! 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 materia] 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 arc appropriate in the 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 the accounting policies used and thereasonableness ol die accounting estimates made by the Company's Directors as well asevaluating the overall presentation of thefinancial 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 our 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 fair view in conformity with the accountingprinciples gener ally accepted in India.

(a) In case ol Balance Sheet of die stale of affairs of the Company as at 31stMarch 2016.

(b) In the case of the Statement of Profit and Loss of the Profit of the company forthe year ended 31st March. 2016.

(c) In the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

Reporton Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("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 iiulve paragraph 3and 4 ol the Order to the extent applicable.

2. As required bySection L43 (3] ofthe Act wercporiihat:

(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 ouropinion the aforesaid financial statements comply with the AccountingStandarcl specified under Section 133 of the Act read with Rule 7 or the Companies(Accounts) Rules 2014:

(e) on the basis of the written representations received from the directors as on 31March 2016 taken on record by the Board of Directors none of the directors isdisqualified axon 31 March 2016 from being appointed as a director i:i terms of Section164 (2] oftheAct;and

(f) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls the companyhas in all material respect an adequate internal financial control system over financialreporting and such internal financial controls over financial reporting wore operatingeffectively as at march 31 2016. Based on the internal control over financial reportingcriteria established by the company considering the essential components of internalcontrol stated ir. guidance note on audit ol internal control over financial reportingissued by the institute of chartered accountants of India. Further Internal audit of thecompany was carried out by the separate professional firm.

(f) with respect to the other matters to he included in tile Auditor's Report .accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to rho best of our information and according to the explanations given to us:

i. the Company does nothave any pending litigation which would impact its financialposition.

ii. die Company does not have any long term contracts including derivative contractsfor which there were any material foreseeable losses.

iii. There has been no amount to be transferred to che Investor Ed ucation andProtection Fund by the Company.

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

For VAG & COMPANY
CHARTERED ACCOUNTANTS
(Registration No. 003014C)
PLACE : KOTA Sd/-
DATED: 30/05/2016 CA ARP IT JAIN
(PARTNER)
Membership No. 4097B I

Annexure to the Auditors report of the even date to the members:

The Annexure referred co in our Independent Auditors' Report ro the members of theCompany on the financial statements for theyear ended 31 March 2016 we report that:

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

(b) The Company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified In a phased manner over a period of three years. Inaccordance with this programme certain fixed assets were verified during the year and nomaterial discrepancies were noticed on such verification hi our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

(c) There are no immovable property in the name of company. Hence question of titledeeds in the name of company does notarise.

(ii) Based on ‘die audit procedures and explanation given by the management cherewas no transact ons held tluring the whole year of purchases and saies. Further there wasno opening and dosing inventory held by the company. Therefore clause 2 or t he order isnot applicable to t he company.

(iii) (a) The Company has granted loans to seven parties covered in the registermaintained under section 189 ol the Companies Act 2013 ('the Act').

(b) I n the case of the loans granted lo the related party listed in the registermaintained under section 189 of the Act the borrowers have been regular m the payment ofdie interest as stipulated. The terms of nrrargements do not stipulate any repaymentschedule and the loans are repayable on demand. Accordingly paragraph 3(iii)(b)of theOrder is not applieable to the Company in respect of repaymentof the principal amount.

(c) There are no overdue amounts of more than rupees one lakh in respect of the loansgranted to d o bodies Corporate I isted in the register maintained under section 189 ofthe Act.

(iv) in our opinion and according co the information and explanations given to us. thecompany has complied with the provisions of section 105 and 186 of the companies act 2013in respect of loans investments guarantees and security.

(v) The Company has not accepted any deposits from I he public

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148 (1) of the Act for any of the activities done by the Company.

(vii) (a) According to the information and explanations given ro us ami on the basisofour examination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including provident fund. Income tax.sales tax wealth taxservice tax duty of customs vaJue 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 or.account of employees' state insurance and duty ol excise.

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. dutyot customs value added tax cess and other material statutory dues were in arrears as at31 March 2016 for a period of more than six months from the date they became payable.

(b) According to the information and explanatiunsgiven to us there are no materialdues of wealth tax duty ol customs and cess which have not boon deposited with theappropriate authorities on account of any dispute.

(viii) In our opinion and according to the information and explanation given ro us thecompany has not defaulted in the repayment of dues to banks. The company has not taken anyloan either form financial insritu.ionsor form governmentand has not issued anydebentures.

(ix) based upon the audit procedures performed and the information and explanationgiven by the management the company has not raised money by way of initial public offeror further public offer including debt instrument and term loans. Accordingly theprovisions of clause 3fix) of the orderare not applicable to the company and hence not commen tod upon.

(x) According to the information and exp I a nations given ro us no material fraud onor by the Company has been noticed or reported duringthe course ofour audit.

(xi) Based upon the audit procedures performed and the information and explanationgiven by the management the company has paid managerial remuneration in accordance withthe requisite approvals mandated by the provisions of section 19? read with schedule V tothe companies act.

(xii) In our opinion thecompany isnota idhi company therefore the provisions of clause4{xii) ol theorderare ootapplicable to the company.

(xiii) In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of the Companies act 2013. And the details have been disclosed in thefinancial statements as required by the applicable accounting standards.

(xiv) Based upon the audit procedures performec and the information and explanationsgiven by the management the company has not made any preferential allotment or privatePlacement of.shares or fully or partly convertible debentures during the yeanmder review.

Accordingly the provisions of clause 3 (xiv) of theorderare not applicable tothecompany.

(xv) Based upon die audit procedures performed and the information and explanationsgiven by the management the company has not entered into any non cash transactions withdirectors or persons connected with him.

(xvi) In our opinion the company is not required to be registered under section 45 1Aof the Reserve bank of india act 1934.

For VAC & COMPANY
CHARTERED ACCOUNTANTS
FRN 003014C
PLACE : KOTA Sd/-
DATED : 30/05/2016 CA ARPITJAIN
(Partner)
M.NO. 409781