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Hari Govind International Ltd.

BSE: 531971 Sector: Industrials
NSE: N.A. ISIN Code: INE167F01018
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Hari Govind International Ltd. (HARIGOVINDINTL) - Auditors Report

Company auditors report

To the members of

HARIGOVIND INTERNATIONAL LIMITED

We have audited the attached Balance Sheet of HARIGOVIND INTERNATIONAL LIMITED as at 31stMarch 2015 the Profit and Loss Account FOR THE YEAR ENDED ON THAT DATE annexedthereto. These financial statements are the responsibility of the company's management.

Our responsibility is to express an opinion on these financial statements based on ouraudit.

1. 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.

2. As required by the Companies (Auditor's Report) Order 2003 issued by the CentralGovernment of India in terms of sub-section (4A) of section 227 of the Companies Act1956 we enclose in the Annexure a statement on the matters specified in paragraphs 4 and5 of the said order.

3. Further to our comments in the Annexure referred to in paragraph 2 above we reportthat:

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 the law have been kept bythe company so far as appears from our examination of those books.

c) The Balance Sheet the Profit & Loss Account dealt with by this report are inagreement with the books of account.

d) In our opinion the Balance Sheet the Profit & Loss Account dealt with by thisreport comply with the mandatory Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956

e) In our opinion and based on information and explanation given to us none ofDirectors are disqualified as on 31st March 2015 from being appointed asDirectors in term of section 274(l)(g) of The Companies Act 1956.

f) In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts read together with the significant Accounting Policies andother notes thereon give the information required by the Companies Act 1956 in themanner so required and present a true and fair view in conformity with the accountingprinciples generally accepted in India:

(i) in so far as it is relates to Balance Sheet of the state of affairs of the companyas at 31 st March 2015;

(ii) In so far as it relates to the Profit & Loss Account the profit of thecompany for the year ended on that date;

(iii) In so far as it relates to Cash Flow Statement of the Cash Flow for the yearended on that date

For DILIP JAMBHEKAR & COMPANY
Chartered Accountants
Place: Mumbai (Vinay P. Sapre)
Date ; 11th May 2015. Partner
Membership No. 103602

ANNEXURE REFERRED TO IN PARAGRAPH OF THE AUDITOR’S REPORT ON THE ACCOUNTS OF HARIGOVIND INTERNATIONAL LIMITED FOR THE YEAR

ENDED AS ON 31st MARCH 2015.

As required by the Corrparties (Auditor’s report) Order 2003 issued by thecentral Government of India in terms of section 227(4-A) of the Companies Act 1956 wereport that:

It is informed by the management and directors of the company that the company is underclosure since 1999-2000. Most of the records in the form of original register documentsetc. are soiled and destroyed by termite that were kept in factory premises.

Regarding the inventor/ position there are no records available for the period from01-04-1999 to 31-03-2000 and onwards.

Whatever data and records that the management have collected from the available spoiledpapers etc. is made available to us for audit and examination for the said financial year.

From the above available records the comments on the accounts as annexure to auditorreport is as follows.

1. The Company had NIL Blocks of Fixed Assets based during the financial year2013-14. on the information and explanations given by the management and on the basis ofaudit procedures performed by us.

However The company had maintained proper records showing full particularsincluding quantitative details and situation of fixed assets (previously).

2. None of the Fixed Assets have been revalued by the company during the year.

3. Physical verification was not conducted by the management at reasonable intervalsduring the year in respect of finished goods raw material stores & spare part as theoperation of the company had stopped in the year 1999-2000

4. The procedure of physical verification (was not carried out as the company ceases tooperate) of stocks followed by the management are reasonable and adequate in relation tothe size of the company and nature of its busi ness.

5. As explained to us no significant discrepancies were noticed on such verification ascompared with the book records and the same have been properly dealt with in the books ofaccounts.

6. The valuation cf these stock is fair and proper and in accordance with the normally

accepted accounting principles. The basis of valuation of stock is same as in thepreceding year.

7. During the year the company has taken unsecured loan of Rs. NIL!- The amountof interest is not required to provide.

8. The company has not granted loans secured or unsecured to companies firms or otherparties listed in the register maintained under section 301 of the Companies Act 1956and/or to the companies under the same management as detailed under section 370 (1-B) ofthe Companies Act 1956.

9. The principal amount and interest there on accumulated is not recoverable from thesaid parties. Hence for the current year interest is not charged on the outstanding loanand advance account.

10. As the company ceases to operate since 1999-2000 there were no transaction ofpurchases of stores raw material including components plant and machinery and otherassets and for the sell of goods. The question of internal control procedures does notarise.

11. The company has not accepted any deposits from the public.

12. The company has no by-products and in our opinion reasonable records have beenmaintained by the company for sale and disposal of realizable scraps whereversignificant.

13. The company did not have any formal internal audit system but its internal controlprocedure ensures the checking of financial records which in our opinion is reasonablecommensurate with its size and nature of its business.

14. The central government has not prescribed maintenance of cost records to zipmanufacturing industry under section 209 (1) (d) of the Companies Act 1956 (1 of 1956).

15. The company is regular in depositing Provident Fund and Employees State Insurancedues with the appropriate authority.

16. According to the information and explanations given to us no undisputed amountspayable in respect of Income Tax Customs Duty and Excise Duty Wealth Tax Sales Tax wereoutstanding as at the last day of the financial year for a period of more then six monthsfrom the date they became payable.

17. During the course of our examination of the books of accounts carried out inaccordance with generally accepted auditing practices and as per the information andexplanations given to us there are no personal expenses charged to revenue account.

18. The company is not a sick industrial company within the meaning of clause (O) ofthe sub-section (1) of section (3) of the Sick Industrial Companies (Special) ProvisionAct 1985.

FOR DILIP JAMBHEKAR & COMPANY
CHARTERED ACCOUNTANTS.
PLACE : NAGPUR.
DATE : 11.05.2015
(VINAY P. SAPRE)
PARTNER.
Membership No. 103602.