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Chandni Textiles Engineering Industries Ltd.

BSE: 522292 Sector: Industrials
NSE: N.A. ISIN Code: INE713D01048
BSE LIVE 14:05 | 02 Dec 1.45 -0.15
(-9.38%)
OPEN

1.44

HIGH

1.45

LOW

1.44

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.44
PREVIOUS CLOSE 1.60
VOLUME 18817
52-Week high 1.69
52-Week low 0.61
P/E 145.00
Mkt Cap.(Rs cr) 23.40
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.60
Sell Qty 20000.00
OPEN 1.44
CLOSE 1.60
VOLUME 18817
52-Week high 1.69
52-Week low 0.61
P/E 145.00
Mkt Cap.(Rs cr) 23.40
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.60
Sell Qty 20000.00

Chandni Textiles Engineering Industries Ltd. (CHANDNITEXT) - Auditors Report

Company auditors report

To

The Members of Chandni Textiles Engineering Industries Ltd

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Chandni TextileEngineering Industries Ltd ('the Company') which comprise the balance sheet as at31st March 2015 the statement of profit and loss and the cash flow statement for theyear then ended and a summary of significant accounting policies and the other explanatoryinformation.

Management's Responsibility for the Standalone 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 implement 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.

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 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 procedure to obtain evidence about the amounts and thedisclosures 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 statement that give a true and fair view in order to design audit proceduresthat are 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 of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation 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 31 March 2015 and its profit and its cash flows for the year ended on that 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 explanation 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 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 the written representations received from the directors as on 31march 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164 (2) of the 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 statement – Refer Note No. 35(i)(a) to the financialstatements;

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses; and

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

For CHANDAN PARMAR & CO.
Chartered Accountants
ICAI FRN No. 101662W
Deepak H. Padachh
Place: Mumbai Partner
Date: 29.05.2015 Membership No. 45741

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1 under 'Report on the Other Legal and RegulatoryRequirements' section of our report of even date)

[i] (a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed asset.

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

[ii] (a) As informed to us the inventory in the company's possession has beenphysically verified at reasonable intervals during the year by the management. In respectof inventory lying with the third parties the same have substantially been confirmed bythem at reasonable intervals during the year.

(b) In our opinion the procedures of physical verification of inventory followed bythe management are reasonable and adequate in relation to the size of the company and thenature of its business.

(c) In our opinion the company is maintaining proper records of inventory. Thediscrepancies noticed on verification between physical stock and book records were notmaterial.

[iii] The company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained u/s 189 of the Companies Act 2013.Accordingly clause 3(iii) of the Order in not applicable.

[iv] In our Opinion and according to the information and explanation given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of inventory and 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 controls.

[v] The company has not accepted deposits from the public.

[vi] As informed to us maintenance of cost records has not been prescribed by theCentral Government under sub-section (1) of Section 148 of the Companies Act 2013 for anyproduct of the Company.

[vii] (a) In our opinion and according to the information and explanations given to usthe company has generally been regular in depositing with the appropriate authorities theundisputed statutory dues applicable to it. There were no arrears of outstandingundisputed statutory dues as at the last day of the financial year concerned for a periodof more than six months from the date they became payable.

(b) According to the information and explanation given to us there is no amountrequired to be transferred to the investor protection fund in accordance with the relevantprovisions of the Companies Act 1956 (1 of 1956) and rules made thereunder.

(c) According to the information and explanations given to us there are no dues ofincome tax sales tax custom duty wealth tax service tax excise duty cess tax whichhave not been deposited on account of any dispute.

[viii] The Company does not have accumulated loss at the end of the financial year andhas not incurred cash losses in the financial year and in the immediately precedingfinancial year.

[ix] According to the information and explanation provided to us the company has notdefaulted in repayment of dues to the banks.

[x] According to the information and explanations given to us the company has notgiven any guarantee for loans taken by others from banks or financial institutions.

[xi] According to the information and explanation given to us the company has notavailed any term loans during the year.

[xii] According to the information and explanation given to us no fraud on or by thecompany has been noticed during the course of our audit.

For CHANDAN PARMAR & CO.
Chartered Accountants
ICAI FRN No. 101662W
Deepak H. Padachh
Place: Mumbai Partner
Date: 29.05.2015 Membership No. 45741

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