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Natural Capsules Ltd.

BSE: 524654 Sector: Others
NSE: N.A. ISIN Code: INE936B01015
BSE LIVE 09:36 | 26 Sep 60.00 -2.00
(-3.23%)
OPEN

64.95

HIGH

64.95

LOW

60.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 64.95
PREVIOUS CLOSE 62.00
VOLUME 1200
52-Week high 99.00
52-Week low 57.10
P/E 48.39
Mkt Cap.(Rs cr) 37
Buy Price 60.00
Buy Qty 10.00
Sell Price 64.40
Sell Qty 60.00
OPEN 64.95
CLOSE 62.00
VOLUME 1200
52-Week high 99.00
52-Week low 57.10
P/E 48.39
Mkt Cap.(Rs cr) 37
Buy Price 60.00
Buy Qty 10.00
Sell Price 64.40
Sell Qty 60.00

Natural Capsules Ltd. (NATURALCAPSULES) - Auditors Report

Company auditors report

To the Members of M/s Natural Capsules Limited Report on the Financial Statements

We have audited the accompanying financial statements of M/s Natural Capsules Limited("the Company") which comprise tire Balance Sheet as at 31st March2016 the Statement of Profit and Loss and Cash Flow statement for the year then endedand a summary of 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 Section 134(5) of the Companies Act 2013 (tire Act) with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows 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) Rule 2014. 1 hisresponsibility also includes maintenance of accounting records in accordance with theprovisions of the Act for safeguarding the assets of the company and for preventing anddetecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgment 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 misstatements whether due to fraudor error.

Auditor's 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 tire accounting and auditingstandards and matters which are required to be included in the audit report under theprovision of the Act and the Rules made thereunder.

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 tire audit to obtain reasonable assurance about whetherthe financial statements are free from nraterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosure in the financial statements. The procedures selected depend on the auditor'sjudgement including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial 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 accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof tire financial statements.

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

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 31March 2016 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 (the Order) issued bythe

Central Government of India in terms of sub-section (11) of Section 143 of the Act wegive

in the Annexure a statement on the matters specified in paragraphs 3 and 4 of tireorder to

the extent applicable.

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 purposes of 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 these books;

c. The Balance Sheet the Statement of Profit & Loss and the Cash Flow Statementdealt with by this report are in 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 31SIMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31SI March 2016 from being appointed as a director in termsof Section 164 (2) of the Act;

f. With respect to the adequacy of internal financial controls over financial reportingof the Company and the operating effectiveness of such controls refer to our separatereport in "Annexure - B"

g. With respect to tire 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 has disclosed the impact of pending litigations on its financialposition in its financial statements - Refer Note 27(iii) to the financial 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 no delay in transferring amount required to be transferred to theInvestor Education and Protection Fund by the Company.

Place: BANGALORE Date: 28/05/2016

For GNANOBA & BHAT CHARTERED ACCOUNTANTS Firm Reg. No: 000939S

K ft GNANOBA (PARTNER) M. No 023137

ANNEXURE - A TO AUDITOR'S REPORT REFERRED TO IN PARAGRAPH 1 OF OUR

REPORT OF EVEN DATE

1) In respect of its fixed assets :

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of the fixed Assets.

b) As explained to us the fixed assets were physically verified during the year by theManagement with a regular programme of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals. According to theinformation and explanations given to us no material discrepancies were noticed on suchverification.

2) As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals. According to the information and explanations given tous no material discrepancies were noticed on such verification.

3) The Company has not granted any loan secured or unsecured to the Companies firmsor other parties covered in the register maintained under section 189 of the CompaniesAct 2013. Hence Reporting under this clause is not applicable

4) The Company has not advanced any loans investments guarantees arid security interms of Section 185 & 186 of the Companies Act 2013 and reporting under this clauseis not applicable.

5) In our opinion and according to the information and explanations given to us theCompany has not accepted any Deposits in terms of directives issued by Reserve Bank ofIndia and under provisions of Section 73 to 76 or any other relevant provisions of theCompanies Act 2013 and the rules framed there under during tire year. Hence reportingunder this clause is not applicable.

6) According to the records produced and information given to us the provisions ofSection 148(1) of the Companies Act 2013 regarding maintenance of cost records isapplicable to the company and the company has maintained tire records as required.

7) According to tire information and explanations given to us and according to thebooks and records as produced and examined by us in respect of statutory due :

a) The Company has been generally regular in depositing undisputed statutory duesincluding Provident Fund Investor Education and Protection Fund Income Tax Sales TaxExcise Duty Custom Duty Service Tax Cess and other statutory dues with tire appropriateauthorities during the period wherever applicable. However the following undisputedCentral Sales tax are in arrears as at SI"1 March 2016 for a period ofmore than six months from the date they became payable :

Name Of Statue Nature of Dues Amount (in Rs.) For the Period Due Date
Central Sales tax Act Tax Collected 4302 2011-12 April 2012
Central Sales tax Act Tax Collected 3105 2012-13 April 2013
Central Sales tax Act Tax Collected 3000 2012-13 April 2013

 

Name Of Statue Nature of Dues Amount (in Rs.) For the Period Forum Where dispute is Pending
Service Tax Service tax 226747 Jan2005 to Nov 2008 CESTAT
Service Tax Penalty on Service Tax 258935 Jan2005 to Nov 2008 CESTAT
Service Tax Service tax 2208074 Nov2009 to Oct 2012 Commissioner of Central Excise
Service Tax Penalty on Service Tax 2208074 Nov2009 to Oct 2012 Commissioner of Central Excise
Service Tax Penalty and Interest on Service Tax 295907 April 2011 to March 2012 Commissioner of Central Excise
Service Tax Service Tax 142102 June 2013 to

December

2013

Commissioner of Central Excise
Service Tax Penalty on Service T ax 10000 June 2013 to

December

2013

Commissioner of Central Excise
Service Tax Service T ax 171530 April 2007 to March 2008 Commissioner of Central Excise
Service Tax Penalty on Service Tax 124818 April 2007 to March 2008 Commissioner of Central Excise
Service Tax Service Tax 131902 April 2012 to October 2012 Commissioner of Central Excise
Service Tax Penalty on Service Tax 6500 April 2012 to October 2012 Commissioner of Central Excise
Service Tax Service Tax 95828 November
  1. to May

2013

Commissioner of Central Excise
Service Tax Penalty on Service Tax 4500 November
  1. to May

2013

Commissioner of Central Excise

c) As per the information and explanation given to us the amounts which were requiredto be transferred to the Investor Education and Protection Fund in accordance with therelevant provisions of the Companies Act 1956 (1 of 1956) and the rules made tire reunder has been transferred to such fund within time wherever applicable.

the best of our knowledge and belief according to the information and explanationgiven to us by the Management and according to the books and records as produced andexamined by us no frauds were noticed or reported during the year.

  1. According to the information and explanation given to us the managerial remuneration has been paid in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule-V to the Companies Act.
  2. In our opinion the Company is not a Nidhi Company. Therefore Reporting under this clause is not applicable.
  3. In our opinion and according to the information and explanation provided. Section 177 of the Companies Act 2013 is not applicable to the Company. All transactions with the related parties are in compliance with section 188 of the Companies Act 2013 and adequate details have been disclosed in the Financials Statements etc as required by the applicable accounting standards.
  4. Company has made preferential allotment during year and requirement of sec 42 of tire Companies Act 2013 have been compiled with and the amount raised have been used for the purpose for which the funds raised.
  5. In our opinion and according to the information and explanation provided the company has not entered into any non-cash transactions with the directors or persons connected to the director/s in terms of Section 192 of the Companies Act 2013 and hence reporting under this clause is not applicable.
  6. According to the information and explanation given to us the Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act 1934.

Place: BANGALORE Date: 28/05/2016

For GNANOBA & BHAT CHARTERED ACCOUNTANTS Firm Reg. No: 000939S

nanoba

(PARTNERi

M. No 02313"