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Hindustan Bio Sciences Ltd.

BSE: 532041 Sector: Health care
NSE: N.A. ISIN Code: INE597C01013
BSE LIVE 15:08 | 18 Aug 0.86 -0.04
(-4.44%)
OPEN

0.90

HIGH

0.90

LOW

0.86

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.90
PREVIOUS CLOSE 0.90
VOLUME 6857
52-Week high 2.51
52-Week low 0.86
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.86
Sell Qty 1100.00
OPEN 0.90
CLOSE 0.90
VOLUME 6857
52-Week high 2.51
52-Week low 0.86
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.86
Sell Qty 1100.00

Hindustan Bio Sciences Ltd. (HINDBIOSCIENCE) - Auditors Report

Company auditors report

To the Members of '

Hindustan Bio-Sciences Limited

Report on Financial Statements

1. We have audited the accompanying financial statements of Hindustan Bio SciencesLimited ("the Company") which comprise the Balance Sheet as at March 31 201 6and the Statement of Profit and Loss and Cash Flow Statement for the year then ended anda summary of significant accounting policies and other explanatory information which wehave signed under reference to this report.

Management's Responsibility for the Financial Statements

2. 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 preparationand presentation of these financial statements that give a true and fair view of thefinancial position financial performance and the cash flows of the Company in accordancewith the Accounting Standards specified under Section 1 33 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014. This responsibility includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation to the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these financial statements based onour audit. We conducted our audit in accordance with the Standards on Auditing specifiedunder Section 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.

4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditors' judgment including the assessment of the risk of material misstatement of thefinancial statements whether due to fraud and error. In making those risk assessmentsthe auditors consider internal control relevant to the Company's preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the entity's internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Management as well as evaluating the overall presentation of thefinancial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opininon

6. in our opinion and to thf> best of our information and according to theexplanations given to us the accompanying financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India:

a. In the case of the Balance Sheet of the state of affairs of the Company as at March31 201 6

b. In the case of the Statement of Profit and Loss of the Loss for the year ended onthat date; and

c. In the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

7. As required by 'the Companies (Auditor's Report) Order 2016 ( the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraphs 3and 4 of the Order.

3. 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) ln our opinion proper books of accounts as required by law have been kept by theCompany so far as appears from our examination of those books.

(c) The Balance Sheet Statement of Profit & Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account;

(d) ln our opinion the Balance Sheet Statement of Profit & Loss and Cash FlowStatement dealt with by this report comply with the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014;

(e) On the basis of written representations received from the directors as on 31stMarch 201 6 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms ofSection 164(2) of the Act;

For VASG & ASSOCIATES
Chartered Accountants
FRN 006070S
Place : Hyderabad (A. Viswanatha Rao)
Date : 30-05-2016 Partner
Membership No. 029597

Annexure to the Independent Auditors' Report:

The Annexure referred to in our Independent Auditors' Report of even date to themembers of Hindustan Bio-Sciences Limited on the accounts of the Company for the yearended 31st March 2016 we report that:

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

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and on the basis ofexamination of the records of the Company the Company does not have any immovableproperty and hence reporting on the same does not arise.

ii. The inventory of the Company contains stock of pharmaceutical drugs. As explainedto us inventories have been physically verified during the year by the management atreasonable intervals and no material discrepancies were observed. '

iii. According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not granted unsecured interest freeloans to a Company and a proprietorship covered in the register maintained under Section189 of the Act.

iv. The Company has not granted any loans made any investment given any guarantee orsecurity. Accordingly paragraph 3(iv) of the Order is not applicable.

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

vi. The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act.

vii. (a) According to the records of the Company amounts deducted/accrued in the booksof account in respect of undisputed statutory dues including provident fundemployees’ state insurance income-tax sales-tax service- tax. duty of customsduty of excise value added tax cess to the extent applicable and any other statutorydues have generally been regularly deposited with the appropriate authorities. Accordingto the information and explanations given to us there were no outstanding statutory duesas on 31 st of March 201 6 for a period of more than six months from the date they becamepayable.

(b) According to the information and explanations given to us there are no amountspayable in respect of income tax service tax sales tax duty of customs or duty ofexcise which have not been deposited on account of any disnutes. oq

viii. Based on our audit procedures and on the information and explanations given bythe management we are of the opinion that the Company has not defaulted in repayment ofdues to a financial institution bank or debenture holders.

ix. The Company did not raise money by way of initial public offer or further publicoffer (including debt instruments) and term loans. Accordingly paragraph 3(ix) of theOrder is not applicable.

x. According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

xi. According to the information and explanations given to us and on the basis of ourexamination of the books of account managerial remuneration has been paid and provided inaccordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

xii. In our opinion the Company is not a Nidhi Company. Accordingly paragraph 3(xii)of the order is not applicable.

xiii. According to the information and explanations given to us and based on ourexamination of the records of the Company transaction with the related parties are incompliance with sections 1 77 and 1 88 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

xv. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

xvi. The Company is not required to be registered under section 45TIA ofthe. Reserve Bank of India Act 1934.

For VASC & ASSOCIATES
Chartered Accountants
FRN 006070S
Place : Hyderabad (A. Viswanatha Rao)
Date : 30-05-2016 Partner
Membership No. 029597