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Genus Prime Infra Ltd.

BSE: 532425 Sector: Industrials
NSE: N.A. ISIN Code: INE256D01014
BSE LIVE 15:14 | 27 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.02
PREVIOUS CLOSE 3.07
VOLUME 2000
52-Week high 5.65
52-Week low 2.44
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.02
Sell Qty 30.00
OPEN 3.02
CLOSE 3.07
VOLUME 2000
52-Week high 5.65
52-Week low 2.44
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.02
Sell Qty 30.00

Genus Prime Infra Ltd. (GENUSPRIME) - Auditors Report

Company auditors report

To

The Members Genus Prime Infra Limited

Report on the Audit of the Standalone Financial Statements

We have audited the standalone financial statements of Genus Prime Infra Limited("the Company") which Comprise the balance sheet as at 31st March2016 and the statement of Profit and Loss and cash flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for 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) Rule2014. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of 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 the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statement that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor’s Responsibilities

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made thereunder. We conducted our audit inaccordance with the Standards on Auditing issued by the Institute of CharteredAccountants of India as 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 the amount anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statement whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstance. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide a basis for our audit opinion onthe standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the standalone 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 March31 2016 its profitand 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 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2013 we give in the "Annexure-I" astatement on the matters specified in paragraphs 3 and 4 of the Order.

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 ouropinion proper books of account as required by law have been kept by the Company so faras it appears from our examination of those books; (c) The Balance Sheet Statement ofProfit and Loss and the Cash Flow Statement dealt with by this Report are in agreementwith the books of account; (d) In our opinion the aforesaid standalone financialstatements comply with the Accounting Standards specified under Section 133 of the Actread with Rule 7 of the Companies (Accounts) Rules 2014; (e) On the basis of the writtenrepresentations received from the directors as on 31st March 2016taken onrecord by the Board of Directors none of the directors is disqualified as on 31stMarch 2016 from being appointed as a director in terms of Section 164 (2) of the 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 in "Annexure 2" to this report. (g) With respect to theother matters to be included in the Auditor’s Report in accordance with Rule 11 ofthe Companies

(Audit and Auditors) Rules 2014 in our opinion and to the best of our information andaccording 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 derivativecontracts for which there were any material foreseeable losses; iii. There has beenno delay in transferring amounts required to be transferred to the Investor Educationand Protection Fund by the Company.

For D Khanna& Associates
Chartered Accountants
FRN: 012917N
Place: Delhi [Deepak Khanna]
Date: 26.05.2016 Partner
M.NO.092140

"Annexure 1" referred to in our report of even date

Re: Genus prime Infra Limited ("the Company")

(i) There is no fixed assets with the company hence reporting under this clause is notapplicable.

(ii) There is no Inventory with the company hence reporting under this clause is notapplicable.

(iii) The company has not granted any loan secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the companiesAct 2013. Accordingly clause (iii) (a) and (iii) (b) of paragraph of the order are notapplicable to the company for the year under report.

(iv) In our opinion and according to the information and explanations given to usprovisions of section 185 and 186 of the Companies Act 2013 in respect of loans todirectors including entities in which they are interested and in respect of loans andadvances given investments made and guarantees and securities given have been compliedwith by the Company.

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

(vi) To the best of our knowledge and as explained to us the central government hasnot specified the maintenance of cost records under clause 148(1) of the Companies Act2013 for the products of the company.

(vii)

(a) The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employees’ state insurance.Income-tax service tax duty of custom duty of excise Value added tax cess and othermaterial 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-tax. servicetax sales-tax duty of custom duty of excise value added tax cess and other materialstatutory dues were outstanding at the year end for a period of more than six monthsfrom the date they became payable.

(c) According to the records of the Company the dues outstanding of income-taxservice tax duty of custom duty of excise value added tax and cess on account of anydispute are Nil.

(viii) Based on our audit procedures performed for the purpose of reporting the trueand fair view of the financial statements and according to information and explanationsgiven by the management we are of the opinion that the Company has not defaulted inrepayment of dues to a financial institution debenture holders bank or government.

(ix) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statement and according to the information and explanationsgiven by the management the Company has not raised any money way of initial public offer/ debt instruments and term loans hence reporting under clause (ix) is not applicable tothe Company and hence not commented upon.

(x) Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management we report that no fraud by the Company or no fraud on the Companyby the officers and employees of the Company has been noticed or reported during the year.

(xi) Based on our audit procedure performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management we report that the managerial remuneration has been paid /provided in accordance with the requisite approvals mandated by the provisions of section197 read with Schedule V to the Companies Act 2013.

(xii) In our opinion the Company is not a nidhi company. Thereforethe provisions ofclause 3(xi) of the order are not applicable to the Company and hence not commented upon.

(xiii) Based on our audit procedures performed for the purpose of reporting the trueand fair view of the financial statements and according to the information andexplanations given by the management transactions with the related parties are incompliance with section 177 and 188 of Companies Act 2013 where applicable and thedetails have been disclosed in the notes to the financial statements as required by theapplicable accounting standards.

(xiv) According to the information and explanations given to us and on an overallexamination of the balance sheet the Company has not made any preferential allotment orprivate placement of shares or fully or partly convertible debentures during the yearunder review and hence no commented upon.

(xv) Based on our audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management the Company has not entered into any non-cash transactions withdirectors or persons connected with him.

(xvi) According to the information and explanations given to us the provisions ofsection 45-1A of the Reserve Bank of India Act 1934 are not applicable to the Company.

For D Khanna& Associates
Chartered Accountants
FRN: 012917N
Place: Delhi [Deepak Khanna]
Date: 26.05.2016 Partner
M.NO.092140