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Creative Merchants Ltd.

BSE: 538504 Sector: Others
NSE: N.A. ISIN Code: INE896P01011
BSE LIVE 15:53 | 23 Dec Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 35.50
PREVIOUS CLOSE 35.50
VOLUME 275
52-Week high 43.55
52-Week low 35.50
P/E 710.00
Mkt Cap.(Rs cr) 17.75
Buy Price 0.00
Buy Qty 0.00
Sell Price 35.50
Sell Qty 6032.00
OPEN 35.50
CLOSE 35.50
VOLUME 275
52-Week high 43.55
52-Week low 35.50
P/E 710.00
Mkt Cap.(Rs cr) 17.75
Buy Price 0.00
Buy Qty 0.00
Sell Price 35.50
Sell Qty 6032.00

Creative Merchants Ltd. (CREATIVEMERCHA) - Auditors Report

Company auditors report

Auditors

Auditors’ Report to the members of Creative Merchants Limited

We have audited the attached Balance Sheet of Creative Merchants Limited as at March31 2014 and the Profit and Loss Account for the year ended on that date annexedthereto. These Financial Statements are the responsibility of the Company’sManagement. Our responsibility is to express an opinion on these Financial Statementsbased on our audit.

We conducted our audit in accordance with Auditing Standards generally accepted inIndia. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the Financial Statements are free of material misstatement. Anaudit includes examining on a test basis evidence supporting the amounts and disclosuresin the Financial Statements. An audit also includes assessing the Accounting Principlesused and significant estimates made by Management as well as evaluating the overallFinancial Statement presentation. We believe that our audit provides a reasonable basisfor our opinion.

Further to our comments in the Annexure referred to above we report that:

(a) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of our audit;

(b) In our opinion proper books of account as required by the law have been kept bythe Company so far as appears from our examination of those books;

(c) The Balance Sheet and Profit and Loss Account referred to in this report are inagreement with the books of account;

(d) In our opinion the Balance Sheet and Profit and Loss Account dealt with by thisreport are in compliance with the Accounting Standards referred to in Section 211(3C) ofthe Companies Act 1956.

(e) On the basis of the written representations received from the Directors as on 31stMarch 2014 and taken on record by the Board of Directors we report that none of theDirectors is disqualified as on 31st March 2014 from being appointed as aDirector in terms of Clause (g) of Sub-Section (1) of Section 274 of Companies Act 1956;

(f) In our opinion and to the best of our information and according to the explanationsgiven to us the said Balance Sheet and Profit & Loss Account give theinformation required by the Companies Act 1956 in the manner so required and give astrue and fair view in conformity with the Accounting Principles generally accepted inIndia:

(i) In so far as it relates to the Balance Sheet of the state of affairs of theCompany as at March 31 2014;

(ii) In so far as it relates to the Profit and Loss Account of the profit of theCompany for the year ended on that date.

M/s. Hemant C. Parikh & Co.
Date: 12/04/2014 Chartered Accountants
Place: Ahmedabad Sd/-
Hemant Parikh
(Proprietor)
M No. 031780

Annexure referred to in paragraph II of our report of even date

(i) (a) The Company has not maintained any fixed assets so there is no requirement ofmaintaining proper records showing full particulars including quantitative details andsituation of fixed assets.

(b) No fixed assets have been owned by the Company so question of Physical verificationby the management during the year does not arise.

(c) The Company has not disposed off its fixed assets during the year.

(ii) (a) The management has conducted physical verification of inventory at reasonableintervals during the year.

(b) The procedures of physical verification of inventory followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

(c) The Company is maintaining proper records of inventory and no materialdiscrepancies were noticed on physical verification.

(iii) As informed to us the Company granted or taken any loans secured or unsecuredto/from companies firms or other parties covered in the register maintained under section301 of the Companies Act 1956.

(iv) In our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business for the purchase of inventory and fixed assets and for thesale of goods and services. During the course of our audit no major weakness has beennoticed in the internal control system in respect of these areas.

(v) According to the information and explanations given to us the Company has notentered into any transaction that needs to be entered into the register maintained undersection 301 of the Act.

(vi) The Company has not accepted any deposits from the public.

(vii) In our opinion the Company has an internal audit system commensurate with thesize and nature of its business.

(viii) To the best of our knowledge and as explained the Central Government has notprescribed maintenance of cost records under clause (d) of sub-section (1) of section 209of the Companies Act 1956 for the products of the Company.

(ix) (a) The Company is regular in depositing with appropriate authorities undisputedstatutory dues including provident fund Investor education and protection fundemployees’ state insurance income-tax sales-tax wealth-tax service tax customsduty excise duty cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund employees’ state insurance income-taxwealth-tax service tax sales-tax customs duty cess and other undisputed statutory dueswere outstanding at the year end for a period of more than six months from the date theybecame payable.

(c) According to the records given by the Company no dues outstanding of sales-taxInvestor education and protection fund income-tax custom duty wealth-tax excise dutyand cess on account of any dispute:

(x) The company does not have any accumulated losses. The company has not incurred cashlosses during the financial year covered by our audit and the immediately precedingfinancial year.

(xi) Based on our audit procedures and as per the information and explanations given bythe management there is no Outstanding Balance of secured loans.

(xii) According to the information and explanations given to us and based on thedocuments and records produced to us the Company has not granted loans and advances onthe basis of security by way of pledge of shares debentures and other securities.

(xiii) In our opinion the Company is not a chit fund or a nidhi /mutual benefit fund /society. Therefore the provisions of clause 4(xiii) of the Companies (Auditor’sReport) Order 2003 (as amended) are not applicable to the Company.

(xiv) In our opinion the Company is not dealing in or trading in shares securitiesdebentures and other investments. Accordingly the provisions of clause 4(xiv) of theCompanies (Auditor’s Report) Order 2003 (as amended) are not applicable to theCompany.

(xv) 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.

(xvi) In our opinion and according to the information and explanations given to us bythe management term loans are applied for the purpose for which the loans were obtained.

(xvii) According to the information and explanations given to us and on an overallexamination of the balance sheet of the Company we report that no funds raised onshort-term basis have been used for long-term investment

(xviii) The Company has made preferential allotment of 4500000 equity shares of Rs.10each to parties or companies covered in the register maintained under section 301 of theCompanies Act 1956.

M/s. Hemant C. Parikh & Co.
Date: 12/04/2014 Chartered Accountants
Place: Ahmedabad Sd/-
Hemant Parikh
(Proprietor)
M No. 031780

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