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Chpl Industries Ltd.

BSE: 539335 Sector: Others
NSE: N.A. ISIN Code: INE714Q01014
BSE LIVE 13:48 | 23 Oct 18.10 0
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18.10

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18.10

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18.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 18.10
PREVIOUS CLOSE 18.10
VOLUME 500
52-Week high 21.25
52-Week low 14.10
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 18.85
Sell Qty 10.00
OPEN 18.10
CLOSE 18.10
VOLUME 500
52-Week high 21.25
52-Week low 14.10
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 18.85
Sell Qty 10.00

Chpl Industries Ltd. (CHPLINDUSTRIES) - Auditors Report

Company auditors report

To

The Members of

CHPL INDUSTRIES LIMITED

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of CHPL Industries Limitedwhich comprise the Balance Sheet as at 31stMarch 2017 the Statement of Profit andLoss and Cash Flow Statement for the year then ended and a summary of significantaccounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The management and Board of Directors of the Company are responsible for the mattersstated in Section 134(5) of the Companies Act 2013 (‘the act') with respect to thepreparation of these 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 Companies (Accounts) Rules2014. This responsibility includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; design implementation and maintenance of adequate internal financial controlsthat are 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 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement. An audit involves performing procedures to obtain audit evidence about theamounts and 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 accounting policies used and the reasonablenessof the accounting estimates made by the Company's management and Board of Directors aswell as evaluating 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.

Opinion

In our opinion and to the 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 generally accepted in India of the state of affairs of the Company as at 31stMarch 2017 its Profit & Loss and its cash flows for the year ended on that date.

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 Section143 ofthe Act we give in the Annexure "A" statement on the matters Specifiedin paragraphs 3 and 4 of the Order. As required by section 143(3) of the Act we furtherreport that:

a) We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit;

b) n our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books;

c) The Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account;

d) In our opinion the aforesaid financial statements comply with the applicableAccounting 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 March 312017 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2017 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 B"; and

g) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014:

(i) The Company did not have any long-term contracts including derivative contracts .

(ii) There has not been an occasion in case of the Company during the year under reportto transfer any sums to the Investor Education and Protection Fund. The question of delayin transferring such sums does not arise.

For Ramanand& Associates

Chartered Accountants

Firm Registration No. : 117776W

CA Ramanand Gupta

Partner

Place: Bardoli

Date: 30th May 2017

"Annexure A" to the Independent Auditors' Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement' of our report of even date to the financial statements of theCompany for the year ended March 31 2017:

(i) (a) As the company does not have any fixed assets it is not required to maintainproper records showing full particulars including quantitative details and situation ofthe fixed assets.

(b) As the company does not have any fixed assets it is not required to have a regularprogramme of the physical verification of its fixed assets by which all fixed assets areverified in the phased manner.

(ii) In our opinion and according to the information and explanation given to ussince the company does not hold any inventories the provisions of clause is notapplicable.

(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 2013.

(iv) The Company has not granted any loans investments guarantees and securitiesunder section 185 & 186 of the Act.

(v) According to the information and explanation given to us the company has notaccepted any deposits from the public during the year and accordingly the question ofcomplying with section 73 and 76 of the Companies Act 2013 does not arise.

(vi) Since there is No Business activity during the period under review therefore costrecords prescribed under Sec 148(1) of Companies Act 2013 are not Applicable to thecompany.

(vii) (a) According to the information and explanations given to us and based onthe records of the company examined by us the company is regular in depositing theundisputed statutory dues including Provident Fund Employees' State InsuranceIncome-tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty and othermaterial statutory dues as applicable with the appropriate authorities in India ;

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no dues of Income Tax Wealth Tax Service TaxSales Tax Customs Duty and Excise Duty which have not been deposited on account of anydisputes. There has not been an occasion in case of the Company during the year underreport to transfer any sums to the Investor Education and Protection Fund. The question ofreporting delay in transferring such sums does not arise As at 31st March 2015 theCompany has been registered for less than 5 years; hence clause 4(x) of the Order is notapplicable to it.

(c) According to the information and explanation given to us there was no amount whichwas required to be transferred to the Investor Education and Protection Fund in accordancewith the relevant provisions of the Companies Act 2013 and rules framed there under.

(viii) In According to the records of the company examined by us and as per theinformation and explanations given to us the company has not availed of any loans fromany financial institution or banks and has not issued debentures.

(ix) In our opinion and according to the information and explanations given to us thecompany has not raised moneys by way of initial public offer or further public offer andterm loans during the year.

(x) According to the records of the company examined by us and as per the informationand explanations given to us neither the company nor its officer/ employees has notcommitted any fraud.

(xi) According to the records of the company examined by us and as per the informationand explanations given to us managerial remuneration has been paid or provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

(xii) According to the records of the company examined by us and as per theinformation and explanations given to us the company does not have any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

(xiii) According to the records of the company examined by us and as per theinformation and explanations given to us the company has entered into any non-cashtransactions with directors or persons connected with him and if so whether theprovisions of section 192 of Companies Act 2013

(xiv) According to the records of the company examined by us and as per the informationand explanations given to us the Company is not a Nidhi Company and hence has notcomplied with the Nidhi Rules 2014

(xv) According to the records of the company examined by us and as per the informationand explanations given to usthe company is not required to be registered under section45-IA of the Reserve Bank of India Act 1934.

(xvi) According to the records of the company examined by us and as per the informationand explanations given to us all transactions with the related parties are in compliancewith sections 177 and 188 of Companies Act

For Ramanand& Associates

Chartered Accountants

Firm Registration No. : 117776W

CA Ramanand Gupta

Partner

Place: Mumbai

Date: 30th May 2017

Annexure B to Independent Auditors' Report

Referred to in paragraph 10(f) of the Independent Auditors' Report of even date to themembers of CHPL INDUSTRIES LIMITED on the financial statements for the year endedMarch 31 2017

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Act

1. We have audited the internal financial controls over financial reporting of CHPLINDUSTRIES LIMITED ("the Company") as of March 31 2017 in conjunction withour audit of the financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

2. 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). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

Auditors' Responsibility

3. 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 Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing deemed to be prescribedunder section 143(10) of the Act to the extent applicable to an audit of internalfinancial controls both applicable to an audit of internal financial controls and bothissued by the ICAI. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the 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 operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

6. A company's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

7. Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

8. In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31 March 2017 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For Ramanand& Associates

Chartered Accountants

Firm Registration No. : 117776W

CA Ramanand Gupta

Partner

Place: Bardoli

Date: 30th May 2017