The Members of
DRA Consultants Pvt. Ltd.
Report on the Financial Statements
We have audited the accompanying financial statements of DRA Consultants Pvt. Ltd.Nagpur which comprises the Balance Sheet as at 31st March 2016 Statementof Profit & Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.
Management's Responsibility for the 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 Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of these financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.
Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures 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 control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management 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.
In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:
(a) in the case of the Balance Sheet of the State of Affairs of the Company as at 31stMarch 2016;
(b) in the case of the Statement of Profit and Loss of the Profit for the yearended on that date.
(c) in the case of Cash Flow Statement of the Cash flows for the year ended on thatdate.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")as amended issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the mattersspecified in paragraphs 4 and 5 of the Order.
2. As required by section 143(3) of the Act we report that:
a) we have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit;
b) in our opinion proper books of account as required by law have been kept by the
Company as 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 Accountingstandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014; and
e) on the basis of written representations received from the directors as on 31March 2016 and taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2016 from being appointed as a director in terms ofSection 164 (2) of the Act.
f) With respect to the other matters to be included in the Auditors' 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:
The Company has made provision in its financial statements as required under theapplicable law or accounting standards for material foreseeable losses on long termcontracts.
| ||For KND & ASSOCIATES |
| ||Chartered Accountants |
|NAGPUR ||F.R.N. 112180W |
|DATED: 30 JUN 2016 ||[SUREN DURAGKAR] |
| ||Partner |
| ||MEM.No.044926 |
DRA CONSULTANTS PRIVATE LIMITED
Annexure to the Auditors' Report
The Annexure referred to in our report to the members of DRA Consultants Pvt. Ltd. forthe year Ended on 31st March 2016. We report that:
1. In respect of Fixed Assets of the company
(a) the company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.
(b) these fixed assets have been physically verified by the management at reasonableintervals. No material discrepancies were noticed on such verification and the samehave been properly dealt with in the books of account.
(c) the title deeds of the immovable property are held in the name of the company
2. In respect of Inventories of the company
a) the physical verification of inventory has been conducted at reasonable intervals bythe management. The procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the company and thenature of its business. The company is maintaining proper records of inventory and No materialdiscrepancies were noticed on physical verification and the same have been properly dealtwith in the books of account.
3. In respect of Loans secured or unsecured of the company
(a) the company has not granted any loan secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act
4. In respect of loans investments guarantees and security
(a) the company has complied with the Sections 185 and 186 of the Companies Act 2013.
5. In respect of Deposits in the company
(a) The company has not accepted any deposits during the year. Therefore thedirectives of Reserve Bank of India and the provisions of sections 73 to 76 or any otherrelevant provisions of the Companies Act are not applicable to the company.
6. In respect of maintenance of Cost Records in the company
(a) The provisions of the relevant Sections are not applicable to the Company. Hence nosuch records have been made or maintained.
7. In respect of the Statutory Dues of the company
(a) the company is regular in depositing undisputed statutory dues includingIncome-tax Duty of excise Value added tax Cess and any other statutory dues with theappropriate authorities.
(b) there were no Statutory Dues payable in respect of the above the specifiedpaymentson account of any disputes.
8. In respect of the Repayment of dues of the company
(a) the company hasn't defaulted in repayment of dues to a financial institution orbank and did not have any amount outstanding at the end of the year.
9. In respect of the moneyraised by the company
(a) the company has applied theterm loan for the purpose for which it was raised.
10. In respect of any Fraud detected in the company
(a) to the best of our knowledge and belief and according to information andexplanations given to us NO fraud Material or otherwise has been noticed orreported during the year.
11. In respect of Managerial Remuneration
(a) the company is a Private Ltd. Company henceit is not required to comply with theprovisions of section 197 and Schedule V of the Companies Act 2013.
12. In respect of Nidhi Companies
(a) the company is not a Nidhi Company hence is not required to comply with theprovisions relating to it.
13. In respect of transactions with Related Parties
(a) the company has complied with Section 177 and 188 of Companies Act 2013 and allthe requisite details have been disclosed.
14. In respect of allotment of shares
(a) the company has not made any preferential allotment or private placement of sharesduring the year.
15. In respect of non-cash transactions
(a) the company has not entered into any non-cash transactions with the directors orany persons connected with him.
16. In respect of registration with Reserve Bank of India
(a) the company is not required to get registered with u/s 45-IA of the Reserve Bank ofIndia Act 1934.
| ||For K N D & ASSOCIATES |
| ||Chartered Accountants |
|NAGPUR ||F.R.N. 112180W |
|DATED: 30 JUN 2016 ||(SUREN DURAGKAR) |
| ||Partner |
| ||Ml. No. 044926 |
| ||502-503 Satyam Apartment |
| ||Wardha Road Dhantoli Nagpur-440012. |