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East Buildtech Ltd.

BSE: 507917 Sector: Infrastructure
NSE: N.A. ISIN Code: INE706N01017
BSE LIVE 10:36 | 15 May Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.66
PREVIOUS CLOSE 7.01
VOLUME 200
52-Week high 7.35
52-Week low 6.66
P/E 10.92
Mkt Cap.(Rs cr) 1
Buy Price 6.66
Buy Qty 2800.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.66
CLOSE 7.01
VOLUME 200
52-Week high 7.35
52-Week low 6.66
P/E 10.92
Mkt Cap.(Rs cr) 1
Buy Price 6.66
Buy Qty 2800.00
Sell Price 0.00
Sell Qty 0.00

East Buildtech Ltd. (EASTBUILDTECH) - Auditors Report

Company auditors report

The Members of East Buildtech Ltd. Report on the financial statements

We have audited the accompanying financial statements of EAST BUILDTECH LIMITED("the Company") which comprise the Balance Sheet as at 31st March 2016 theStatement of Profit and Loss and Cash Flow Statement for the period from 1st April 2015to31stMarch 2016 then ended and a summary of significant accounting policies and otherexplanatory 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 Act2013 ("theAct") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 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 of 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 the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

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 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 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 o t 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. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

We believe that the audit evidence we have obtained si 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 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 2016and its Loss and its cash flows for the period ended on that date.

Report on Other Legal and Regulatory requirements

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 Companies Act 2013we give in the Annexure 'A a statement on the matters specified inparagraphs 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 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 financial statements comply with the AccountingStandards specified under Section 133 of the Actread with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of the written representations received from the directors as on 31stMarch

2016 taken on record by the Board of Directors none of the directors is disqualifiedas on 31st March 2016from being appointed as a director in terms of Section 164 (2) ofthe Act.

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 ni "Annexure B".

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 has no pending litigations on its financial position in its financialstatements hence no disclosure is required;

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For B.K.Shroff & Co.

Chartered Accountants

Firm Reg. No. : 3021 66E

Partner

Membership No. 90378

Place : New Delhi

Date : 30-05-2016

ANNEXURE- A To the Auditors Report

Annexure referred to in paragraph (1) under the heading of "Report on Other Legaland Regulatory requirements" of our report of even date

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

(b) All the fixed assets have been physically verified by the management according to aregular program which in our opinion is reasonable having regard to the size of thecompany and the nature of its assets. No material discrepancies with respect to bookrecords were noticed on such verification.

Discrepancies noticed have been properly dealt with in the books of account.

(c) The title deeds of immovable properties are held in the name of the company.

(ii) (a) The stock of saleable commercial space has been physically verified atreasonable intervals by the management during the year. In our opinion the frequency ofverification is reasonable.

(b) The procedures for physical verification of inventory (saleable commercial space)followed by the management are reasonable and adequate in relation to the size of thecompany and nature of its business.

(c) The company is maintaining proper records of inventory (saleable commercial space).

Discrepancies noticed on verification of inventory as compared to book records were notmaterial.

(iii) The company has not granted any loans secured or unsecured to companies firmslimited liability partnerships or other parties covered in the register maintained undersection 189 of the Companies Act2013 and as such clauses (iii) (a) (b) and (c) of theorder are not applicable to the company.

(iv) In our opinion and according to the information and explanations given to us noloans investments guarantees and security covered under section 185 and

186 of the Companies Act 2013 has been given by the company.

(v) According to the information and explanation given to us the company has notaccepted any deposit from the public. Therefore the • provisions of clause (v) ofthe order are not applicable to the company.

(vi) As informed to us the company is not required to maintain any cost records asprescribed by the central government under sec 148(1) of the Companies Act 2013.

(vii) (a) The company is generally regular in depositing with the appropriateauthorities undisputed statutory dues including provident fund employees state insuranceincome tax sales tax service taxduty of custom duty of excise value added tax cessand any other statutory dues applicable o t it. According to the information andexplanations given to us no undisputed amounts payable in respect thereof wereoutstanding as at 31st March2016 for a period of more than six months from the date theybecame payable.

(b) According to the records of the company dues of income-tax or Sales tax or servicetax or duty of custom or duty of excise or value added tax which have not been depositedon account of any dispute are as under:-]

Name of the Statue Dues Nature of Amount (Rs.) Period to which amount relates pending Forum where
Service Tax Service tax & penalty thereon 713464 2009-2010 & 2010-2011 Commissioner of Service Tax (Appeals)

(viii) In our opinion and according to the information and explanations given to usthe company has not defaulted in repayment of loans or borrowings to a financialinstitution bank government or dues to debenture holders.

(ix) As explained to us no money has been raised by way of initial public offer orfurther public offer (including debt instruments) and term loans have been raised duringthe year.

(x) According to the information and explanations given to us no fraud by the companyor on the company by its officers or employees has been noticed or reported during theyear.

(xi) In our opinion and according to the information and explanation given to usmanagerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 197 read with schedule V of the CompaniesAct 2013.

(xii) The company is not a nidhi company and hence provisions of clause (xii) of theorder are not applicable to the company.

(xiii) In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the financial statements etc. as required by the applicable accountingstandards.

(xiv) During the year under review the company has not made any preferential allotmenton private placement of shares or fully or partly convertible debentures.

(xv) The company has not entered into any non cash transactions with directors orpersons connected with him.

(xvi) The Company is not required to be registered under section 45-1A of the ReserveBank of India Act 1934

For B.K.Shroff & Co.

Chartered Accountants

Firm Reg. No. : 302166E

Partner

Membership No. 90378

Place : New Delhi

Date : 30-05-2016