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Ind-Agiv Commerce Ltd.

BSE: 517077 Sector: Others
NSE: N.A. ISIN Code: INE115E01010
BSE LIVE 12:11 | 20 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 25.70
PREVIOUS CLOSE 24.50
VOLUME 100
52-Week high 26.00
52-Week low 24.50
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 25.70
CLOSE 24.50
VOLUME 100
52-Week high 26.00
52-Week low 24.50
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ind-Agiv Commerce Ltd. (INDAGIVCOMMER) - Auditors Report

Company auditors report

To

The Members of

IND AGIV COMMERCE LTD.

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of IND AGIV COMMERCE LTD. whichcomprise the Balance Sheet as at March 312015 and the Statement of Profit and Loss forthe year 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 Section 134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance 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.

AUDITORS 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 thereunder. We conducted our audit in accordancewith the Standards on Auditing 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 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 riskassessments the 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 circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting 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 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 31 stMarch 2015 and its profit for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. as required by the Companies (Auditor's Report) order 2015 issued by the CentralGovernment of India in terms of Sub-section (11) of Section 143 of the Act (hereinafterreferred to as the Order) and on the basis of such checks of the books and records of theCompany as we considered appropriate and according to the information and explanationsgiven to us we give in the Annexure a Statement on the matters specified in paragraphs 3and 4 of the Order.

2. As required by section 143(3) of the Act we reportthat:

a. We have soughtand obtained all the information and explanations which to the best ofour 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 dealt with by this Report arein agreement with the books of account.

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e. On the basis of the written representations received from the directors as on 31 stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms ofsection 164 (2) of the Act.

f. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies Act (Audit and Auditors) Rules 2015 in ouropinion and to the best of our information and according to the explanations given to us

i. The Company does not have any pending litigations on its financial position in itsfinancial statements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There has been an occasion in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For M/s. Shah & Bhosale
Chartered Accountants
(M. S. Bhosale)
Place: Mumbai Partner
Date:-30th May 2015 Membership No. 040228

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT

(Annexure referred to in paragraph 1 of the Auditor's Report on accounts for the yearended 31st March 2015)

1. a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

b) As explained to us the fixed assets are physically verified by the Managementaccording to a phased program designed to coverall the items over a period of two yearswhich in our opinion is reasonable having regard to the size of the Company and thenature of its assets. Pursuant to the program a portion of the fixed assets has beenphysically verified by the Management during the year and no material discrepancies havebeen noticed on such verification.

2. a); Physical verification of inventories has been conducted by the management atreasonable intervals during the year

b) In our opinion the procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the Company and thenature of its business.

c) In our opinion the Company is maintaining proper records of Inventories. Thediscrepancies noticed on such verification between the physical stocks and book recordswere not material and the same have been properly dealt with in the books of account.

3. As informed to us the Company has granted loans secured or unsecured to companiesfirms or other parties covered in the register maintained under section 189 of theCompanies Act 2013.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control system commensurate with the size of the Companyand the nature of its business for the purchase of inventory and fixed assets and for thesale of goods and services; however the same are required to be further improved &strengthened. According to the information and explanations given to us we have notobserved any continuing failure to correct major weakness in internal control system.

5. According to the information and explanations given to us the Company has notaccepted any deposits in terms of the directives issued by the Reserve Bank of India andthe provisions of sections 73 to 76 or any other relevant provisions of the Companies Act2013 and the rules framed there under.

6. In respect of business activities of the Company we are informed that maintenanceof cost records have not been specified by the Central Government under sub-section (I) ofsection 148 of the Companies Act 2013.

7. a) As per information and explanations given to us the Company is regular indepositing undisputed

statutory dues including provident fund employee's state insurance income tax valueadded tax wealth tax service tax duty of customs duty of excise value added tax cessand any other statutory dues with the appropriate authorities. There are no outstandingstatutory dues as at the last day of the financial year under audit for a period of morethan six months from the date they became payable.

b) According to the information and explanations given to us there are no dues ofvalue added tax income tax custom duty wealth tax service tax excise duty and cesswhich have not been deposited on account of any dispute.

c) There is no amount required to be transferred to Investor Education and ProtectionFund has been transferred within the stipulated time in accordance with the provisions ofthe Companies Act 1956 and the rules made thereunder.

8. There are no accumulated losses of the Company as at the end of the year. TheCompany has not incurred cash losses during the financial year covered by our audit and inthe immediately preceding financial year.

9. Based on our audit procedures and on the basis of information and explanations givento us by the management we are of the opinion that the Company has not defaulted inrepayment of dues to the financial institution and banks.

10. According to information and explanations given to us company has not given anyguarantee to any other entities.

11. In our opinion and according to the information and explanations given to us thecompany has not obtained any term loan

12. Based upon the audit procedures performed and information and explanations given bythe management we report that no fraud on or by the Company has been noticed or reportedduring the year.

For M/s. Shah & Bhosale
Chartered Accountants
(M. S. Bhosale)
Place: Mumbai Partner
Date:-30th May 2015 Membership No. 040228