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Neha International Ltd.

BSE: 519560 Sector: Others
NSE: NEHAINT ISIN Code: INE874D01022
BSE LIVE 11:15 | 20 Nov 6.88 0.18
(2.69%)
OPEN

6.70

HIGH

7.14

LOW

6.51

NSE 00:00 | 27 Jun Stock Is Not Traded.
OPEN 6.70
PREVIOUS CLOSE 6.70
VOLUME 26613
52-Week high 12.00
52-Week low 4.60
P/E 7.91
Mkt Cap.(Rs cr) 20
Buy Price 6.53
Buy Qty 500.00
Sell Price 6.88
Sell Qty 99.00
OPEN 6.70
CLOSE 6.70
VOLUME 26613
52-Week high 12.00
52-Week low 4.60
P/E 7.91
Mkt Cap.(Rs cr) 20
Buy Price 6.53
Buy Qty 500.00
Sell Price 6.88
Sell Qty 99.00

Neha International Ltd. (NEHAINT) - Auditors Report

Company auditors report

To

The Members of

NEHA INTERNATIONAL LIMITED

Report on the Financial Statements:

We have audited the accompanying financial statements of NEHA INTERNATIONAL LIMITED("the Company") which comprise the Balance Sheet as at March 312016 theStatement of Profit and Loss and the Cash Flow Statement for the period then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility forthe Financial Statements:

The Company's Board of Directors is responsible forthe matters stated in Section 134(5)of the Companies Act 2013 ("the 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 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; andthe design implementation and maintenance of adequate internal financial control thatwere operating 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 misstatementwhether due to fraud orerror.

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 specified undersection 143(10) of the Act issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

An audit involves performing audit procedures to obtain audit evidence about theamounts and 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 risk assessments theauditor considers internal financial control relevant to the Company's preparation andfair presentation of the financial statements that give true and fair view in order todesign audit procedures that are appropriate in the circumstances and for the purpose ofexpressing an opinion on whether the company has an adequate Internal Financial ControlSystem over Financial Reporting in place and the operating effectiveness of such Controls.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by management as well as evaluating theoverall 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 on the financial statements.

Opinion:

In our opinion and to the best of our information and according to the explanationsgiven to usthe financial statements give the information required by theAct in the mannerso required and give a true and fair view in conformity with the accounting principlesgenerally accepted in India:

a) in the case of the Balance Sheetof the state of affairs of the Company as at March3l20l6;and

b) in the case of the Profit and LossAccountof the profit for the period ended on thatdate.

c) in the case of the cash flow statementof the Cash Flowsforthe period ended on thatdate.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 andon the basis of such checks of the books and records of the company as we consideredappropriate and according to the information and explanation given to us we giveAnnexure-A a statement on the matters specified in the paragraphs 3 and 4 of the Order tothe extent applicable to the company.

2. As required by section 143(3)of theActwereportthat:

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;

c. the Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account;

d. in our opinion the Balance Sheet and Statement of Profit and Loss comply with theAccounting Standards specified under section 133 of the CompaniesAct20l3 read with rule 7of the Companies (Accounts) Rules 20l4.

e. on the basis of written representations received from the directors as on March312016 and taken on record by the Board of Directors none of the directors isdisqualified as on March 312016 from being appointed as a director in terms of section164(2) ofAct.

f. Based on the Internal Financial Control Report given by the Independent AuditorsM.M. Reddy & Co we are of the opinion that the company has adequate internalfinancial controls system in place and the operating effectiveness of such controls.(enclosed Independent Auditors Report of M.M.REDDY & Co. on Internal FinancialControls as Annexure B)

g. With respect to the other matters to be included in auditor's report in accordancewith Rule 11 of Companies (Audit and Auditors) Rules 2014 in our opinion and to the bestof our information and according to the explanation given to us;

i. The Company has disclosed the impact of pending litigation of its financial positionin its financial statements.

ii. In our opinion and as per the information and explanations provided to usthecompany not entered into any longterm contracts including derivate contracts requiringunder applicable laws or accounting standards for material foreseeable losses and

iii. There has been no delay in transferring to the Investor Education and ProtectionFund by the Company.

For Mathesh & Ramana
Chartered Accountants
Firm Regn. No.002020S
Place: Hyderabad Sd/-
Date: 30.05.2016 B V Ramana Reddy
Partner
M.No. 026967

ANNEXURETOTHE INDEPENDENT AUDITOR'S REPORT Re: NEHA INTERNATIONAL LIMITED

Referred to in Paragraph 1 under section (Report on other Legal and RegulatoryRequirements of our Report of even date)

(i) (a) The company has maintained proper records showing full particulars includingquantitative details and situation

of fixed assets.

(b) All the assets have been physically verified by the management during the year andthere is a regular program of verification which in our opinion is reasonable havingregard to the size of the company and the nature of its assets. No material discrepancieswere noticed on such verification.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(ii) (a) The Management has conducted physical verification of inventory (excludingstocks lying with third parties) at reasonable intervals. In respect of inventory lyingwith third partiesthese have substantially been confirmed by them.In our opinionthefrequency of verification is reasonable.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) The Company is generally maintaining proper records of inventory. The discrepanciesnoticed on verification between physical stock and book records were not material inrelation to the operations of the Company and the same have been properly dealt with inthe books of account.

(iii) (a) The company has not granted loans to the parties covered in the registermaintained under section 189 of the

CompaniesAct2013

(b) The company is regular in recovering the principal amounts as stipulated and hasbeen regular in the receiving of interest.

(c) There were no overdue amounts of loans granted to companies firms or other partieslisted in the register maintained under section 189 of the Companies Act 2013.

(iv) According to the information and explanations given to us in respect of loansinvestments guarantees and security the company has complied with provisions of section185 and 186 of the Companies Act 2013.

(v) According to the information and explanations given to us the Company has notaccepted any deposits in terms of directives issued by Reserve Bank of India and theprovisions of Sections 73 to 76 or any other relevant provisions of the CompaniesActandthe rules framed there under.

(vi) In our opinion and according to the information and explanations given to us thecompany is maintaining proper cost records as been prescribed by the Central Governmentunder sub section (1) of section 148 of the Companies Act 2013 for the activities of theCompany.

(vii) (a) The company is regular in depositing with appropriate authorities theundisputed statutory dues including Income Tax Sales Tax Duty of Excise Value Added Tax(VAT) and other material statutory dues applicable

(b) According to the information and explanations given to us there were no undisputedamounts payable in respect of service tax and sales tax which were in arrearsas at 31stMarch 2016 for a period of more than six months from the date they became payable.

(c) According to the information and explanation given to usthere are no dues of salestaxincome tax and excise duty which have not been deposited on accountof any dispute.

(viii) The Company has not defaulted in repayment of loans or borrowings availed fromany financial institution banks government or debenture holders during the year.

(ix) In our opinion and according to the information and explanations given to usmoney raised by way of Initial Public offer or Further public offer (including debtinstruments) and term loans were applied for the purposes for which those are raised.

(x) In our opinion and according to the information and explanations given to usNofraud by the company or any fraud on the Company by its officers or employees has beennoticed or reported during the year.

(xi) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with ScheduleV to theAct.

(xii) In our opinion and according to the information and explanations given to usthecompany is not a Nidhi company.

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debenturesduringthe year.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Companythe Company has not entered into non-cashtransactions with directors or persons connected with him.

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For Mathesh & Ramana
Chartered Accountants
Firm Regn. No.002020S
Place: Hyderabad Sd/-
Date: 30.05.2016 BV Ramana Reddy
Partner
M.No. 026967