You are here » Home » Companies » Company Overview » Kashiram Jain & Co Ltd

Kashiram Jain & Co Ltd.

BSE: 539533 Sector: Others
NSE: N.A. ISIN Code: INE669R01018
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Kashiram Jain & Co Ltd. (KASHIRAMJAINCO) - Auditors Report

Company auditors report

To

The Members of

M/s KASHIRAM AND JAIN COMPANY LIMITED

1. Report on the Financial Statements

We have audited the accompanying standalone financial statements of M/S. KASHIRAMAND JAIN COMPANY LIMITED ("the Company") which comprises the Balance Sheetas at March 31st 2016 the Statement of Profit and Loss and statement of Cash Flow for theyear ended March 31 2016 and a summary of significant accounting policies and otherexplanatory information.

2. Management’s Responsibility for the Standalone Financial Statements

Management is responsible for the matters stated in Section 134(5) of the CompaniesAct 2013 (‘the Act’) with respect to the preparation of these standalonefinancial statements that give a true and fair view of the financial position financialperformance of the Company in accordance with the Accounting principles generally acceptedin India including the Accounting Standards specified under section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includesmaintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriate accounting policies; makingjudgements and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

3. Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken in to 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 there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 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.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company’s Directors as well as evaluating the overallpresentation of the financial statements.

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

4. Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2016 and its profit and its cash flows for the year ended on that date.

5. Report on Other Legal and Regulatory Requirements

5.1 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 Act we give in the "Annexure A" statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable.

5.2 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 purpose 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 Statement of Profit and Loss and cash flow statement dealt withby this Report are in agreement with the books of account;

d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under the Section 133 of the Act read with rule 7 of theCompanies (Accounts) Rules 2014.

e) On the basis of written representations received from the Directors as on March 312016 and taken on record by the Board of Directors none of the Directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of section 164 (2) ofthe 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 B" and

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) Rules 2014 in our opinionand to the best of our information and according 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 derivative contractsfor which there were any material foreseeable losses;

(iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection fund by the company.

For CA Pravin Poddar
Place: Guwahati Chartered Accountants
Dated: 30th May 2016 Mem. No. : 300906

"Annexure A" to the Independent Auditor’s Report

Referred to in paragraph 1 under the heading ‘Report on Other Legal &Regulatory Requirement’ of report of even date to the standalone financial statementsof the company for the year ended March 31st 2016; we report that:

3.1 Clause (i):

The company does not hold any fixed assets. Accordingly the paragraph 3(i) of theorder is not applicable to the company and hence not commented upon.

3.2 Clause (ii):

The physical verification of inventory has been conducted at reasonable intervals bythe management and no material discrepancies were noticed and they have been properlydealt with in the books of account.

3.3 Clause (iii):

The company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act 2013. Accordingly the paragraph 3(iii) of the order isnot applicable to the company and hence not commented upon.

3.4 Clause (iv):

In respect of loans investments guarantees and security the provisions of section185 and 186 of the Companies Act 2013 have been complied with.

3.5 Clause (v):

According to the information and explanation given to us the company has not accepteddeposits from the public during the financial year under audit. Accordingly the paragraph3(v) of the order is not applicable to the company and hence not commented upon.

3.6 Clause (vi):

In our opinion and according to information and explanation given to us the companydoes not manufacturing any goods and as such the provision related to maintenance of costrecords by the company under sub section (1) of section 148 of Companies Act 2013 for anyof its products as prescribed by Central Government are not applicable.

3.7 Clause (vii):

(a) The company is regular in depositing undisputed statutory dues including providentfund employees' state insurance income-tax sales-tax service tax duty of customsduty of excise value added tax cess and any other statutory dues to the appropriateauthorities.

(b) According to the information and explanations given to us there are no dues ofincome tax or sales tax or service tax or duty of customs or duty of excise or value addedtax which have not been deposited on account of any dispute.

3.8 Clause (viii):

According to the records of the company examined by us and as per the information andexplanation given to us the company has not availed of any loans from any financialinstitution or banks and has not issued debentures. Accordingly the paragraph 3(viii) ofthe order is not applicable to the company and hence not commented upon.

3.9 Clause (ix):

In our opinion and according to information and explanations given to us the companyhas not raised money by way of initial public offer or further public offer (includingdebt instruments) and term loans. Accordingly the paragraph 3(ix) of the order is notapplicable to the company and hence not commented upon.

3.10 Clause (x):

No fraud by the company or any fraud on the Company by its officers or employees hasbeen noticed or reported during the year.

3.11 Clause (xi):

Managerial remuneration has been paid or provided during the year in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act.

3.12 Clause (xii):

In our opinion and according to information and explanations given to us clause (xii)of para 3 to Companies (Auditor's Report) Order2016 w.r.t. Nidhi Company is notapplicable to company. Accordingly the paragraph 3(xii) of the order is not applicable tothe company and hence not commented upon.

3.13 Clause (xiii):

In our opinion all transactions with the related parties are in compliance withsections 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the Financial Statements etc. as required by the applicable accountingstandards.

3.14 Clause (xiv):

The company has not made any preferential allotment or private placement of shares orfully or partly convertible debentures during the year under review.

3.15 Clause (xv)

The company has not entered into any non-cash transactions with Directors or personsconnected with him. Accordingly the paragraph 3(xv) of the order is not applicable to thecompany and hence not commented upon.

3.16 Clause (xvi):

The company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934. Accordingly the paragraph 3(xvi) of the order is not applicable to thecompany and hence not commented upon.

For CA Pravin Poddar
Place: Guwahati Chartered Accountants
Dated: 30th May 2016 Mem. No. : 300906