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Chhattisgarh Industries Ltd.

BSE: 530495 Sector: Others
NSE: N.A. ISIN Code: INE473C01017
BSE LIVE 10:09 | 24 Feb Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.30
PREVIOUS CLOSE 4.52
VOLUME 200
52-Week high 5.25
52-Week low 4.30
P/E
Mkt Cap.(Rs cr) 3.22
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.30
Sell Qty 296.00
OPEN 4.30
CLOSE 4.52
VOLUME 200
52-Week high 5.25
52-Week low 4.30
P/E
Mkt Cap.(Rs cr) 3.22
Buy Price 0.00
Buy Qty 0.00
Sell Price 4.30
Sell Qty 296.00

Chhattisgarh Industries Ltd. (CHHATTISGARHIND) - Auditors Report

Company auditors report

The Members

CHHATTISGARH INDUSTRIES LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements CHHATTISGARHINDUSTRIES LIMITED ("the Company") which comprises the balance sheet as at31 March 2015 the statement of profit and loss the cash flow statement for the year thenended and a summary of significant accounting policies and other explanatory information.

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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting 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 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 judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls 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 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 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 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 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 Loss 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 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 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 does not have any pending litigations which would impact its financialposition.

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

For U.K.Rathi & Co.
Chartered Accountants
Firm No:326128E
Sd/-
Rahul Bansal
(Partner)
Membership no: 068619
Place: Kolkata
Date: 28th August 2015

ANNEXURE TO THE AUDITORS' REPORT

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the standalone financial statements for the year ended 31 March 2015 we reportthat:

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

(b) As per the information and explanations given to us the fixed assets have beenphysically verified by the management during the year in accordance with the phasedprogramme of verification adopted by the Company and no material discrepancies werenoticed on such verification.

2. (a) As explained to us the inventories have been physically verified during theyear by the management. In our opinion having regard to the nature and location ofstocks the frequency of the physical verification is reasonable;

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventory followed by the management are reasonableand adequate in relation to the size of the Company and the nature of its business;

(c) In our opinion the Company is maintaining proper records of inventory and nodiscrepancies has noticed on physical verification of inventories followed by themanagement are reasonable and adequate in relation to the operations of the Company andthe same have been properly dealt with in the books of account;

3. The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Companies Act2013 ('the Act'). Accordingly Clause (iii) (a) and (iii) (b) of the order are notapplicable for the year.

4. In our opinion and as explained to us there are adequate internal controlprocedures commensurate with the size of the Company and the nature of its business withregard to purchase of inventory and fixed assets and for the sale of goods and services.During the course of our audit no major weakness has been noticed in the internalcontrols and there is no continuing failure for the same;

5. In our opinion and as explained to us the Company has complied with provisions ofSections 73 to 76 of the Companies Act 2013 read with The Companies (Acceptance ofDeposits) Rules 2014 and other relevant provisions of the Companies Act. As informed tous no order has been passed by Company Law Board or National Company Law Tribunal orReserve Bank of India or any court or any other tribunal related to compliance with aboveprovisions..

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

7. (a) According to the information and explanations given to us and the recordsexamined by us the Company is regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employees state insurance income-taxsales-tax wealth-tax service tax duty of customs duty of excise value added tax cessand other statutory dues and there are no undisputed statutory dues outstanding as at 31stMarch 2015 for a period of more than six months from the date they became payable.

(b) According to the records of the Company there are no dues of Income Tax salestax wealth tax service tax custom duty excise-duty cess which have not been depositedon account of disputes.

(c) According to the information and explanations given to us there are no amountswhich were required to be transferred to the investor education and protection fund inaccordance with the relevant provisions of the Companies Act 1956 (1 of 1956) and rulesthere under.

8. The Company has accumulated loss of Rs. 38.86 Lacs (Previous period loss Rs. 6.59Lacs) and has incurred a net loss of Rs 32.26 Lacs and has incurred cash loss of Rs 10.88Lacs during the reporting period covered by our audit.

9. Based on the information and explanations given to us the Company has not defaultedin repayment of any dues to financial institutions and banks;

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from bank or financial institutions.

11. Based on our audit procedures and on the information given by the management wereport that the company has not raised any term loans during the reporting period.

12. According to the information and explanations given to us no material fraud on orby the Company has been noticed or reported during the course of our audit.

For U.K.Rathi & Co.
Chartered Accountants
Firm No:326128E
Sd/-
Rahul Bansal
(Partner)
Membership no: 068619
Place: Kolkata
Date: 28th August 2015

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