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NR International Ltd.

BSE: 532623 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE605F01017
BSE LIVE 15:15 | 31 Jul 3.36 -0.17
(-4.82%)
OPEN

3.36

HIGH

3.36

LOW

3.36

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.36
PREVIOUS CLOSE 3.53
VOLUME 2000
52-Week high 6.25
52-Week low 2.62
P/E 67.20
Mkt Cap.(Rs cr) 4
Buy Price 3.36
Buy Qty 85.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.36
CLOSE 3.53
VOLUME 2000
52-Week high 6.25
52-Week low 2.62
P/E 67.20
Mkt Cap.(Rs cr) 4
Buy Price 3.36
Buy Qty 85.00
Sell Price 0.00
Sell Qty 0.00

NR International Ltd. (NRINTL) - Auditors Report

Company auditors report

To

The Members of

N. R. INTERNATIONAL LIMITED

Report on the Financial Statements

1 We have audited the accompanying financial statements of M/s N. R. INTERNATIONALLIMITED ('the Company') which comprises the Balance Sheet as at 31.03.2016 and theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

2 The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 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; 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 misstatement whether due to fraud orerror.

Auditor's Responsibility

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

We have taken into 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 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 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 andthe 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 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 overall presentationof 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.

Opinion

4 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 at31-Mar-2016 and its Profit for the year ended on that date.

Report on Other Legal and Regulatory Requirements

5 As required by the Companies (Auditor's Report) Order 2016 (the Order) issued by theCentral Government in terms of Section 143"&" (11) of the Act we enclose inthe annexure a statement on matters specified in paragraph 3 & 4 of the said order.

6 The Financial statements of the Company's unit M/s Bharat Hardcoke Manufacturers asat 31.03.2016 and for the year then ended were audited by another firm of CharteredAccounatnst who vide their report dated 23.05.2016 expressed an unmodified opinion onthose financial statements.

7 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 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 the Statement of Profit and Loss and the Cash Flow Statementdealt with by 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 Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e.) In our opinion there are no observations or comments on the financial transactionswhich may have an adverse effect on the functioning of the Company.

f.) On the basis of the written representations received from the directors as on31-Mar-2016 and taken on record by the Board of Directors we report that none of thedirectors is disqualified as on 31-Mar-2016 from being appointed as a director in terms ofsection 164(2) of the Act.

g.) Report on the Internal Financial Controls under Clause (i) of Sub-section 3 ofSection 143 of the Companies Act 2013 ("the Act")- is enclosed as annexure tothis report.

h.) 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. As informed to us the Company does not have any pending litigations which wouldimpact its financial position.

ii. The Company did not have any long-term contracts including derivative contracts forwhich 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 Agarwal Vishwanath & Associates
Chartered Accountants
ICAI Registration no.323024E
Place: Kolkata (CA Vishwanath Agarwal)
Date:30n May 2016 Partner
Membership No. 054806

ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE STANDALONE FINANCIALSTATEMENTS OF N. R. INTERNATIONAL LIMITED

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of N. R.INTERNATIONAL LIMITED ('the Company') as of 31.03.2016 in conjunction with our audit ofthe standalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls. These responsibilities include the design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business including adherence tocompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance 168 Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects. Our auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit of internal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. We believe thatthe audit evidence l/we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the Company's internal financial controls system over financialreporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31-Mar-2016.

For Agarwal Vishwanath & Associates
Chartered Accountants
ICAI Registration no.323024E
Place: Kolkata (CA Vishwanath Agarwal)
Date:30th May 2016 Partner
Membership No. 054806

ANNEXURE - Report under the Companies (Auditor's Report) Order 2016 N. R.INTERNATIONAL LIMITED

Referred to in of our report of even date

In terms of the information and explanations sought by us and given by the company andthe books and records examined by us in the normal course of audit and to the best of ourknowledge and belief we state that: -

1 a.) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

1 b.) As explained to us all the assets have not been physically verified by themanagement during the year but there is a regular programme of verification which in ouropinion is reasonable having regard to the size of the company and the nature of itsassets. No material discrepancies were noticed on such verification.

1 c.) The title deeds of immoveable properties are held in the name of the company.

2) The company does not deals in any trading or manufacturing of goods and hence doesnot carry any inventories.

3) The company had granted loan to companies firms Limited Liability Partnerships orother parties covered in the register maintained under section 189 of the Act.

a) The terms and conditions of the grant of such loans are not prejudicial to thecompany's interest.

b) No Schedule of repayment of principal and payment of interest has been stipulated.

c) No Schedule of repayment of principal and payment of interest has been stipulatedand therefore the question of overdue amounts does not arise. Though Company has informedthat the reasonable steps have been taken for recovery of the pricipal and interest.

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

5 In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits in contravention of Directives issued by ReserveBank of India and the provisions of section 73 to 76 or any other relevent provisions ofthe Act amd the rules framed there under where applicable. No order has been passed bythe Company Law Board or National Company Law Tribunal or Reserve Bank of India or anycourt or any other tribunal.

6 It has been explained to us that the maintenance of cost records has not beenprescribed under section 148(1) of the Act.

7 a.) According to the records of the company the company is generally regular indepositing with appropriate authorities undisputed statutory dues including providentfund investor education protection fund employees' state insurance income tax salestax wealth tax service tax custom duty excise duty Cess and other material statutorydues applicable to it.

7 b.) According to the information and explanations given to us the dues of sales taxincome tax custom duty wealth tax excise duty and Cess that have not been depositedwith appropriate authorities on account of any dispute and the forum where the disputesare pending are given below

Name of the Statute Nature of the dues Amount (Rs.) Period to which amount relates Due Date
Orissa VAT Act Audit Assessment U/s 42 6406091.00 01.04.2006 to 31.01.2008 20.12.2009
Orissa CST Act Audit Assessment Under Rule 5 10066.00 01.04.2006 to 31.01.2008 20.12.2009
Orissa Entry Tax Act Audit Assessment U/s 90C 2168925.00 01.04.2006 to 31.01.2008 20.12.2009
Service Tax Audit Assessment 2733189.00 01.04.2008 to 31.03.2010 NA

Note : Above Details are furnished based on data received from the company

8 Based on our audit procedures and according to the information and explanations givento us we are of the opinion the company has not defaulted in repayment of dues to afinancial institution bank Government or dues to debenture holders.

9 The company has not raised moneys by way of initial public offer or further publicoffer (including debt instrument) and term loans.

10 Based upon the audit procedures performed and according to the information andexplanations given to us no fraud by the company or any fraud on the company by itsofficers or employees has been noticed or reported during the course of our audit thatcauses the financial statements to be materially misstated.

11 The Managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act.

12 The company is not a Nidhi Company hence this clause is not applicable.

13 Based upon the audit procedures performed and according to the information andexplanations given to us All transactions with 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.

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

15 The company has not entered into any non-cash transactions with directors or personsconnected with him.

16 The company is not required to be registered under section 45-IA of the Reserve Bankof India Act 1934.

For Agarwal Vishwanath & Associates
Chartered Accountants
ICAI Registration no.323024E
Place: Kolkata (CA Vishwanath Agarwal)
Date:30th May 2016 Partner
Membership No. 054806