TO THE MEMBERS OF
NOBLE POLYMERS LIMITED
> Report on the Financial Statements
We have audited the accompanying financial statements of Noble Polymers Limited whichcomprise the Balance Sheet as at 31 March 2017 the Statement of Profit and Loss the CashFlow Statement for the year then ended and a summary of significant accounting policiesand other explanatory information
> Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters in section 134(5) ofthe 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 the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section 133 Of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company . and forpreventing and detecting the frauds and other irregularities selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of 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 misstatement whether due to fraud orerror.
> Auditor's Responsibility
(1) Our responsibility is to express an opinion on these financial statements based onour audit. We have taken into account the provisions of the Act the accounting andauditing standards and matters which are required to be included in the audit report underthe provisions of the Act and the Rules made there under.
(2) 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.
(3) An audit involves performing procedures to obtain audit evidence about the amountsand 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 of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe financial statements.
(4) We believe that the audit evidence we have obtained is su fficient and appropriateto provide a basis for our audit opinion on the financial statements
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;
1. In the case of the Balance Sheet of the state of affairs of the Company as at March312017;
2. In the case of the Statement of Profit and Loss of the Loss for the year ended onthat date; and
3. In the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.
> Report on other Legal and Regulatory Requirements
As required by the Companies (Auditor's Report) Order 2017 ("the Order) issued bythe Central Government of India in terms of sub-section 01) of Section 143 of the Act wegive in the Annexure a statement on the matters Specified in Paragraph 3 and 4 of theOrder
As required by section 143(3) of the Act we report that:
> We have sought and obtained all the information and explanations which to the bestof our know! edge and belief were necessary for the purposes of our audit.
> 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
d) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statementdealt with by this Report are in agreement with the books of account.
o e) In our opinion the aforesaid financial statements comply with the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the
Companies (Accounts) Rules 2014.
o g) On the basis of written representations received from the directors as on 31March 201 7 taken on record by the board of Directors none of the directors isdisqualified as on 31 March 201 7 from being appointed as a director in terms of -Section 164(2) of the Act.
o h) In our Opinion and to the best of our information and according to the explanationgiven to us we report as under with respect to the other matters included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit & Auditors)Rule 2014 :
1. The company does not have any pending litigations which would impact its financialstatement
2. The company did not have any long term contracts including derivative contracts; assuch the question of commenting on any material foreseeable losses thereon does not arise.
3. There has not been an occasion in case of the company during the year under reportto transfer any sums to the Investors Education and Protection Fund. The question of delayin transferring such sums does not arise.
|For Niranjan Jain & Co. |
|Chartered Accountants |
|(Niranjan Jain) |
|M. No. 047811 |
|FRN No. 11391 3w |
|Date; 30.05.2017 |
|Place; Ahmedabad. |