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Inani Marbles & Industries Ltd.

BSE: 531129 Sector: Others
NSE: N.A. ISIN Code: INE635D01027
BSE LIVE 15:15 | 11 Dec 21.00 0
(0.00%)
OPEN

21.50

HIGH

21.90

LOW

20.20

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 21.50
PREVIOUS CLOSE 21.00
VOLUME 2798
52-Week high 49.50
52-Week low 18.70
P/E 25.61
Mkt Cap.(Rs cr) 34
Buy Price 20.25
Buy Qty 350.00
Sell Price 21.45
Sell Qty 58.00
OPEN 21.50
CLOSE 21.00
VOLUME 2798
52-Week high 49.50
52-Week low 18.70
P/E 25.61
Mkt Cap.(Rs cr) 34
Buy Price 20.25
Buy Qty 350.00
Sell Price 21.45
Sell Qty 58.00

Inani Marbles & Industries Ltd. (INANIMARBLES) - Auditors Report

Company auditors report

TO THE MEMBERS OF

INANI MARBLES & INDUSTRIES LIMITED

Report on the Financial Statements:

We have audited the accompanying financial statements of M/S Inani Marbles &Industries Limited which comprise the Balance Sheet as at March 31 2015 theStatement of Profit & Loss and cash flow statement for the year ended and a summary ofthe significant 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 with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flow of the company in accordance with the accounting principles generallyaccepted in India including Accounting Standard specified in section 133 of the Act readwith rule 7 of the companies (Accounts) Rules2014. This responsibility also includesmaintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding of the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriate accounting polices; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of internal financial controls that are operating effectively foe ensuringthe accuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor’s Responsibility:

Our responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provision of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovision of the Act and Rules made there under. We conducted our audit in accordance withthe Standards on Auditing issued by the Institute of Chartered Accountants of India asspecified under Section 143(10) of the Act. 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 involvesperforming procedures to obtain audit evidence about the amount and disclosures in thefinancial statements. The procedures selected depend on the auditor’s judgmentincluding the assessment of the risk of material misstatement of the financial statementswhether due to fraud or error. In making those risk assessment; the auditor considersinternal control relevant to the Company’s preparation and fair presentation of thefinancial statements in order to design audit procedure that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by theCompany’s Directors as well as evaluating the overall presentation of the financialstatements. We believe that the audit evidences we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the financial statement

Opinion:

In our opinion and to the best of our information and according to explanations givento us the financial statements give the information required by the Act in the manner sorequired and give a true and fair view in conformity with the accounting principlesgenerally accepted in India of the state of affairs of the Company as at 31stMarch and its profit/loss and its cash flow for the year ended on that date.

(i) In the case of Balance Sheet of the state of affairs of the company as at March 312015; and

(ii) In the case of the Profit & Loss A/c of the profit for the year ended on thatdate

(iii) In the case of the Cash Flow Statement of the cash flow of the Company for theyear ended on that date.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor’s Report) Order 2015 (the order) issuedby the Central Government of India in terms of section (ll)of section 143of the Act wegive in the annexure a statement on matters specified in of paragraph 3 and 4 of theorder.

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 requjred by Law have been kept by thecompany so far as appears from our examination of those books.

(c) The company do not have any branch hence Section 143(8) of the Act is notapplicable to the company.

(d) The Balance sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this report are in agreement with the books of Accounts.

(e) In our opinion the financial statement comply with the Accounting Standardsreferred to in the section 133 of the Act read with the rule 7 of the Companies(Accounts) Rules 2014.

(f) On the basis of written representation received from the directors as on March 312015 and taken on record by the Board of Director none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of section 162 (2) of theAct.

(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) Rules2014 in our opinionand to the best of our information and according to the explanation given to us:

(i) The Company has disclosed the impact of pending litigation on its financialposition in its financial statements.

(ii) The did not have any long term contracts including derivatives contract for whichthere were any material foreseeable losses.

(iii) There were no amount which were required to be transferred to the InvestorsEducation and Protection Fund by the Company.

For: Nyati Mundra & CO. For: Mahesh C. Solanki & Co.
Chartered Accountants Chartered Accountants
(Reg. No. 008153C) (Reg. No. 06228C)
CA. R.K. NYATI CA Jagdish Rathi
(Partner)’ (Partner)
M.N. 070692 M.N. 039303

Place: Chittorgarh

Date: 30.05.2015

ANNEXURE TO THE AUDITORS’ REPORT

Annexure referred to in paragraph 1 under the heading of "report on the legal andregulatory requirements" of our report of even date

1. (a) The Company has maintained proper records showing full particulars includingquantitative details & situations of the fixed assets.

(b) The fixed Assets are physically verified by the management according to a phasedprogramme cover all items over a period of three years which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets. Pursuant to theprogramme a portion of the fixed assets has been physically verified by the managementduring the year and no material discrepancies were noticed on such physical verification.

2. (a) The inventory has been physically verified at reasonable intervals by themanagement during the year.

(b) In our opinion and according to the information given to us the procedure ofphysical verification of such inventories followed by the management are reasonable andadequate in relation to the size of the company and the nature of its business.

(c) In our opinion and according to the information given to us the company hasmaintaining proper records of inventory. No material discrepancies noticed on physicalverification between the physical stock and the book records.

3. (a) The Company has not granted loans secured or unsecured to companies firm orother parties covered in the register maintained under section 189 of the Act. Hence thequestion of reporting under sub clause (a) & (b) of the clause 3(iii) of the orderdoes not arise.

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. Further on the basis of our examination of the books and record ofthe Company and according to the information and explanation given to us we have neithercome across nor have been informed of any continuing failure to correct major weakness inthe aforesaid internal control system.

5. In our opinion and according to the information and explanations given to us theCompany has complied with the directives issued by the Reserve Bank of India and theprovisions of section 73 to 76 or any other jelevant provisions of the Act and the rulesframed there under to the extent applicable. We are informed by the Management that noorder has been passed by the Company Law Board or National Company Law Tribunal or ReserveBank of India or any court or any Tribunal in this regard..

6. We have broadly reviewed the books of account maintained by the Company in respectof products where the maintenance of cost records has been specified by the CentralGovernment under sub section (1) of Section 148 of the Act and the rules framed thereunder and we are of the opinion that prima facie the prescribed accounts and records havebeen made and maintained.

7. (a) According to the records information and explanations provided to us theCompany is generally regular in depositing the undisputed statutory dues includingProvident Fund Employee’s State Insurance Income tax Sales tax Wealth tax Servicetax Value Added Tax Customs duty Excise duty Cess and other material statutory duesapplicable to it with appropriate authorities except following dues:

Particulars Financial Year Rs . In Lacs
Entry Tax 2013-14 4.22
Entry Tax 2014-15 1.28

(b) According to the information and explanations given to us and records of theCompany examined by us there are no dues of Wealth Tax Sales Tax Service Tax and Valueadded Tax which have not been deposited by the Company on account of disputes.

(c) According to the information and explanations given to us there were no amountswhich were required to be transferred to the Investor Education and Protection Fund by theCompany.

8. The Company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year.

9. The Company did not have any outstanding dues to financial institutions banks ordebenture holders during the year.

10. In our opinion and according to the information and explanation given to us theCompany has not given any guarantee for loans taken by others from bank or financialinstitutions.

11. According to the information and explanations given to us the term loans have beenapplied for the purpose for which the loans were obtained.

12. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to' the information and explanations given to us we have neither come acrossany instance of fraud on or by the Company noticed or reported during the year nor havebeen informed of any such case by the Management.

For: Nyati Mundra & CO. For: Mahesh C. Solanki & Co.
Chartered Accountants Chartered Accountants
(Reg.No. 008153C) (Reg.No. 06228C)
CA R. K. NYATI CA Jagdish Rathi
(Partner) (Partner)
M.N. 070692 M.N. 039303

Place: Chittorgarh

Date: 30.05.2015