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Link House Industries Ltd.

BSE: 512349 Sector: Infrastructure
NSE: N.A. ISIN Code: INE080C01028
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Link House Industries Ltd. (LINKHOUSEINDS) - Auditors Report

Company auditors report

To the Members of LINK HOUSE INDUSTRIES LIMITED Report on the Financial Statements

We have audited the accompanying financial statements of Linkhouse Industries Ltd.which comprise the Balance Sheet as at March 31 2015 and the Statement of Profit andLoss and Cash Flow Statement for the year then ended and a summary of significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the Accounting Standards referred to in sub-section (3C) ofsection 211 of the Companies Act 1956. This responsibility includes the designimplementation and maintenance of internal control 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 conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. 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 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 and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

(a) in the case of the Balance Sheet of the state of affairs of the Company as atMarch 31 2015.

(b) in the case of the Profit and Loss Account of the profit for the year endedon that date; and

(c) in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1 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 Act we give in theAnnexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(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 required by law have been kept by theCompany so far as appears from our examination of those books [and proper returns adequatefor the purposes of our audit have been received from branches not visited by us;

(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 [and with the returns receivedfrom branches not visited by us; d. in our opinion the Balance Sheet Statement of Profitand Loss and Cash Flow Statement comply with the Accounting Standards referred to insubsection (3C) of section 211 of the Companies Act 1956.

(e) on the basis of written representations received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act 1956

For SAN JAY S. AGRAWAL & CO.
Chartered Accountants
Place: Nagpur F.R N0.116200W
Date: 27/05/2015 (Dhiraj M. Moryani)
Partner
Nl.No. 129877

ANNEXURE TO AUDITOR’S REPORT

(As referred to in Paragraph 1 of our report of Event Date)

(i) a) The company has generally maintained pioper records showing fullparticulars including quantitative details and situation of fixed assets.

b) The management has physically verified all its fixed assets at reasonable intervalsand no material discrepancies were noticed on such physical verification.

(ii) a) As per the information furnished the management at reasonable intervals duringthe year has physically verified the inventories.

b) In our opinion and accordingly to the information and explanation given to usprocedures of physical verification of inventory followed by the management are reasonableand adequate in relation to the size of the company and the nature of its business.

c) In our opinion the company is maintaining proper records of inventory. Thediscrepancies noticed on physical verification of inventory as compared to books recordwere not material and have been property dealt with in the books of account.

(iii) a) The company has granted any loans secured or unsecured to companies firms or

other parties covered in the register maintained under section 189 of the Companies.

P) The receipt of the principal amount and interest wherever applicable are regular.

c) The overdue amount is more than rupees one lacs and reasonable steps have beentaken by the company for recovery of the principal and interest.

(iv) in our opinion and according to the information and explanations givento us there are adequate internal control system commensurate with the size of thecompany and the nature of its business for the purchase of inventory and fixed assets andfor the sale of goods and services. There is no continuing failure to correct majorweaknesses in internal control system.

(v) The company has not accepted deposits there for the directives issued by theReserve Bank of India and the provisions of sections 73 to 76 or any other relevantprovisions of the Companies Act and the rules framed there under are not applicable noorder has been passed by Company Law Board or National Company Law Tribunal or ReserveBank of India or any court or any other tribunal

(vi) The Central Government has not prescribed maintenance of Cost Records underSection 209(1)(d) of the Companies Act 1956 in respect of the Company’s product.

(Vii) a) the company regular in depositing undisputed statutory dues includingprovident fund employees’ state insurance income-tax sales-tax wealth taxservice tax duty of customs duty of excise value added tax cess and any otherstatutory dues with the appropriate authorities and there are no arrears of outstandingstatutory dues as at 31st March 2015 for a period of more than six months fromthe date they became payable

b) According to the records of the Company There are no dues of income tax or sales taxor wealth tax or service tax or duty of customs or duty of excise or value added tax orcess

The amount required to be transferred to investor education and protection fund inaccordance with the relevant provisions of the Companies Act 1956 (1 of 1956) and rulesmade there under are not applicable o company.

viii) The Company does not have accumulated losses at the end of the financialyear and has not incurred cash losses in the current or in the immediately precedingfinancial year.

ix) According to the records of the Company examined by us and the information andexplanation given to us the Company has not defaulted in repayment of dues to anyFinancial Institution Bank and the Company does not have any borrowings by way ofdebentures.

(x) The company has not given any guarantee for loans taken by others from bank orfinancial institutions the terms and conditions whereof are not prejudicial to theinterest of the company;

(xi) The Company has applied term loan respectively for the purpose for which the loanswere granted.

(xii) 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 across anyinstance of fraud on or by the company noticed or reported during the year nor have webeen informed of such case by the management.

For SANJAY S. AGRAWAL & CO.
Chartered Accountants
Place: Nagger F.R N0.116200W
Dated: 27/05/2015 (Dhiraj M. Moryani)
Partner
M. No. 129877