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Chandra Prabhu International Ltd.

BSE: 530309 Sector: Others
NSE: N.A. ISIN Code: INE368D01017
BSE LIVE 15:56 | 22 Jun 21.00 -0.50
(-2.33%)
OPEN

18.70

HIGH

21.95

LOW

18.70

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 18.70
PREVIOUS CLOSE 21.50
VOLUME 2816
52-Week high 30.00
52-Week low 12.10
P/E 8.30
Mkt Cap.(Rs cr) 8
Buy Price 21.05
Buy Qty 99.00
Sell Price 0.00
Sell Qty 0.00
OPEN 18.70
CLOSE 21.50
VOLUME 2816
52-Week high 30.00
52-Week low 12.10
P/E 8.30
Mkt Cap.(Rs cr) 8
Buy Price 21.05
Buy Qty 99.00
Sell Price 0.00
Sell Qty 0.00

Chandra Prabhu International Ltd. (CHANDRAPRINTL) - Auditors Report

Company auditors report

To The Members of

M/s Chandra Frabhu International Ltd

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/s ChandraPrabhu International Ltd ("the Company") which comprise the Balance Sheetas at March 31 2016 the Statement of Profit and Loss Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and 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 preparation ofthese 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 Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules2014. This responsibility also includes the maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting the frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting 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 reportunder the provisions of the Act and the 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 standalone financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thestandalone financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of 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 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;

a) In the case of the Balance Sheet of the State of Affairs of the Company as at March312016;

b) In the case of the Statement of ProUt and Loss of the Profit for the year ended onthat date; and

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

Report on other Legal and Regulatory Requirements

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 Companies Act 2013 we give in the annexure a statement on the matters specified inparagraph 3 and 4 of the Order to the extent applicable.

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 relating to preparationof the standalone financial statements have been kept by the Company so far as it appearsfrom our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account maintained for the purposeof preparation of these standalone financial statements.

d) In our opinion the aforesaid standalone financial statements comply with theAccording 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 March31 2016 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a Director in terms of Section 164(2) of theAct.

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 A". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

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 information and according to the explanations given to us:

i. The Company does not have any pending litigations on its financial position.

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

iii. There was no amount which was required to be transferred to the InvestorEducation and Protection Fund by the Company.

Tor J P S & CO
Chartered Accountants
FRN 004086N
C A J C Verma Partner
M. No. 083210
Place: New Delhi
Dated: 30th May 2016

Annexure "A" to the Independent Auditors' Report

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 (‘the Act')

We have audited the internal financial controls over financial reporting of ChandraPrabhu International Ltd. (‘the Company') as of March 31 2016 in conjunctionwith our audit of the financial statements of the Company for the year ended and as onthat date.

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 on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India (‘ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and the timely preparation of reliable financial informationas required under the Act.

Auditors' 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 Standards on Auditing prescribed under Section 143(10) of the Act and theGuidance Note to the extent applicable to an audit of internal financial controls. ThoseStandards and the Guidance Note require that we comply with the ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols 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 operation effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditors' judgment 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 Company's internal financial controls systemover financial 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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

2. Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and

3. Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting Because ofthe inherent limitations of internal financial controls over financial reportingincluding the possibility of collusion or improper management override of controlsmisstatements due to error of fraud may occur and not be detected. Also projections ofany evaluation of the internal financial controls over financial reporting to futureperiods are subject to the risk that the internal financial controls over financialreporting may become inadequate because of changes in conditions or that the degree ofcompliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2016 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over financial reporting issued by the Institute of Chartered Accountants ofIndia.

For P S & CO
Chartered Accountants
FRN 004086N
C AJ C Verma
Partner
M. No. 083210
Place: New Delhi
Dated: 30th May 2016

Annexure "B" to the Independent Auditors' Report

Report on Companies (Auditor's Report) order 2016 (‘the Order') issued by theCentral

Government in terms of Section 143(11) of the Companies Act 2013 (‘the Act') ofChandra Prabhu

International Ltd. (‘the Company*)

1 In respect of the Company's fixed assets:

(a) The company has maintained proper records showing full particulars of fixed assetsincluding quantitative details and situation of fixed assets.

(b) The fixed assets have been physically verified by the management according to thephased program of three years which is reasonable with regard to size of the company andnature of its assets. Pursuant to the program a portion of the fixed assets have beenphysically verified by the management during the year and no significant materialdiscrepancies between the book records and such physical verification have been noticed.

(c) According to the information and explanations given to us and the records examinedby us and based on the examination of the conveyance deed provided to us we report thatthe title deeds comprising all the immovable properties of land which are freehold areheld in the name of the Company.

2 The physical verification of inventory has been conducted at reasonable intervals bythe management. No material discrepancies were noticed.

3 In respect of the loans secured or unsecured granted or taken by the companyto/from companies firm or other parties covered in the register maintained under section189 of the Companies Act 2013.

a. According to the information and explanations given to us the Company has notgranted loans secured or unsecured to three companies firms or other parties covered inthe register maintained u/s 189 of the Companies Act 2013.

b. As informed to us the company has taken interest free unsecured loans from adirector covered in the register maintained u/s 189 of the Companies Act 2013. Themaximum balance outstanding during the year is Rs 364.65 lacs and yearend balance is Nil.

4 In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Section 185 and 186 of the Act in respect ofgrant of loans making investments and providing guarantees and securities as applicable.

5 In our opinion and according to the information and explanations given to us theCompany has not accepted deposits hence the directives issued by the Reserve Bank ofIndia and the provisions of sections 73 to 76 or any other relevant provisions of theCompanies Act and the rules framed there under are not applicable to it. According to theinformation and explanations given to us no order has been passed against the company byCompany Law Board or National Company Law Tribunal or Reserve Bank of India or any courtor any other tribunal.

6 The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 for any of the services rendered by thecompany.

7 According to the information and explanations given to us and on the basis ofexamination of the records of the Company in respect of statutory dues:

a. the company is generally regular in depositing undisputed statutory dues includingprovident fund employees' state insurance sales-tax wealth tax income tax servicetax custom duty excise duty value added tax cess and any other material statutory dueswith the appropriate authorities to the extent applicable and further there are noundisputed statutory dues payable for a period of more than six months from the date theybecome payable as at 31stMarch 2016.

b. There are no undisputed amounts payable in respect of income tax sales tax servicetax duty of excise duty of custom and other material statutory dues were in arrears ason 31st March 2016 for a period of more than six months from the date they becamepayable.

8 According to the information and explanations given to us and on the basis ofexamination of the records of the Company the company has not defaulted in repayment ofloans or borrowings to a financial institution bank government or dues to debentureholders.

9 The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments) and has raised term loans during the year. In ouropinion and according to the information and explanations given to us the Term loanraised during the year was applied for the purpose for which it was raised.

10 During the course of our examination of the books & records of the companycarried out in accordance with the generally accepted auditing Practices in India andaccording to the information and explanation given to us we have neither come across anyinstances of fraud on or by the company noticed or reported during the year nor have webeen informed of such case by Management.

11 In out opinion and according to the information and explanations given to us theCompany has paid/provided managerial remuneration in accordance with the requisiteapprovals mandated by the provisions of Section 197 read with Schedule V to the Act.

12 The Company is not a Nidhi Company and hence reporting under clause 3(xii) of theOrder is not applicable.

13 According to the information and explanations given to us the Company is incompliance with Section 177 and 188 of the Act where applicable for all transactionswith the related parties and the details of related party transactions have been disclosedin the standalone financial statements as required by the applicable accounting standards.

14 The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures and hence reporting under clause 3(xiv) of theOrder is not applicable to the Company.

15 In our opinion and according to the information and explanations given to us duringthe year the Company has not entered into any non-cash transactions with its Directors orpersons connected to its Directors and hence provisions of Section 192 of the Act are notapplicable. Accordingly paragraph 3(xv) of the Order is not applicable.

16 The Company is not required to be registered under Section 45-1 of the Reserve Bankof India Act 1934.

For P S & CO
Chartered Accountants
FRN 004086N
C A J C Verma
Partner
M. No. 083210
Place : New Delhi
Dated: 30th May 2016