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Parth Industries Ltd.

BSE: 526349 Sector: Others
NSE: N.A. ISIN Code: INE218T01010
BSE LIVE 15:21 | 08 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.05
PREVIOUS CLOSE 1.00
VOLUME 200
52-Week high 1.05
52-Week low 0.00
P/E 14.29
Mkt Cap.(Rs cr) 0
Buy Price 1.00
Buy Qty 1000.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.05
CLOSE 1.00
VOLUME 200
52-Week high 1.05
52-Week low 0.00
P/E 14.29
Mkt Cap.(Rs cr) 0
Buy Price 1.00
Buy Qty 1000.00
Sell Price 0.00
Sell Qty 0.00

Parth Industries Ltd. (PARTHINDUS) - Auditors Report

Company auditors report

To

The Members of

Parth Industries Limited

REPORT ON THE FINANCIAL STATEMENT

1. We have audited the accompanying standalone financial statements of Parth IndustriesLimited the company which compromise the balance sheet as at March 31st 2015the statement of profit and loss cash flow statement for the year then ended and asummary of the significant accounting policies and other explanatory information.

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 of thesefinancial statements to give a true and fare 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 (account ) rules 2014. Thisresponsibility also include maintenance of adequate accounting reports in accordance withthe provision of the for the safeguarding of the assets of the company and for preventingand detecting 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 control that wereoperating effectively for ensuring the accuracy and completeness of the accountingreports relevant to the preparation and presentation of the financial statement that givea true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor's Responsibility

3. Our responsibilities to express an opinion on these financial statements based onour audit.

4. We have taken into account the provision of the Act and the Rules made there underincluding the accounting standards and which are required to be included in the auditreport.

5. We conducted our audit in accordance with the standards on auditing specified undersection 143(10) of the Act and other applicable authoritative pronouncements issued by theInstitute Of Chartered Accountants Of India. Those standards and pronouncement requirethat we comply with ethical requirements and plan perform the audit to obtain reasonableassurance about whether the financial statements are free from material misstatement.

6. An audit involve performing procedure to obtain audit evidence about the amounts anddisclosure in the financial statements. The procedure selected depends on the auditor'sJudgment including the assessment of risk of material misstatement of the financialstatement whether due to fraud or error. In making those risk assessment the auditorconsiders internal financial control relevant to the companies preparation of thefinancial statements the give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the company has in place an adequate internal financial control systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

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

Opinion

8. 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 March31st 2015 and its profit and its cash flows for the year ended on that date.

Report On Other Legal And Regulatory Requirements

9. As required by ‘ The Companies (Auditor's Report) Order 2015' issued by theCentral Government of India in terms of sub section (11) of section 143 of the Act (hereinafter referred to as the " Order") and on the bases of such Checks of the booksand records of the Company as we considered appropriate and according to the informationand explanation given to us we give in the annexure a statement on the matters specifiedin the paragraphs 3 and 4 of the Order.

10. As required by section 143(3) of the Act report that:

(a) We have sought and obtain all the information and explanations which to the best ofour knowledge and belief where necessary for the purpose of our audit.

(b) In our opinion proper books of accounts 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 cash flow statements dealtwith 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) On the basis of the written representation received from the directors as on March31st 2015 taken on record by the Board Of Director none of the director isdisqualified as on 31st March 2015 from being appointed as a director in termsof section 164 (2) of the Act.

(f) 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 knowledge and belief and according to the information andexplanations given to us:

i. The Company has disclosed the impact of pending litigation as at March 31 2015 onits financial position in its Financial Statements

ii. The Company has made provision as at March 31st 2015 as required underthe applicable law or accounting standards the material foreseeable losses if any onlong term contracts including derivative contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe investor education and protection fund by the Company during the year ended March 31st2015.

For M/s. Suresh R Shah & Associates
Chartered Accountants
Date: 23/05/2015
Place: Ahmedabad
Sd/-
Suresh R Shah
(Proprietor)
FRN. No. 110691W

ANNEXURE TO INDEPENDENT AUDITORS REPORT

Referred to in paragraph 9 of the independent Auditors' Report of even date to themembers of Parth Industries Limited on standalone financial statements as of and for theyear ended March 31 2015

i. In respect of its fixed assets:

a) On the basis of available information since the Company has no fixed assets duringthe year the clause as to requirement of maintenance of records containing quantitativedetails of situation of fixed assets is not applicable.

b) As On the basis of available information since the Company has no fixed assetsduring the year the clause as to requirement of physically verification of fixed assetsby the management in a phased periodical manner and its material discrepancies are notapplicable.

ii. In respect of its inventories:

a) The inventories have been physically verified during the year by the management. Inour opinion the frequency 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 has maintained proper records of inventories. As per the information andexplanation given to us no material discrepancies were noticed on physical verification.

iii. Company has not granted any secured or unsecured loans to any companies firms orother parties covered in the register maintained under Section 189 of the Companies Act2013:

a) the comments as to the repayment of principal amount and interest thereon are notapplicable.

b) the comments as to overdue amounts of loans and interest thereon are not applicable.

iv. In our opinion and according to the information and explanations given to us theCompany has an adequate internal control system commensurate with its size and the natureof its business for the purchase of inventory and for the sale of goods and services.During the course of our audit we have not observed any type of failure to correct majorweaknesses in such internal control system.

v. According to the information and explanations given to us the Company has notaccepted any deposit from the public. Therefore the provisions of Clause (v) of paragraph3 of the CARO 2015 are not applicable to the Company.

vi. The Rules as to the maintenance of cost records by the Company pursuant to theCompanies (Cost Records and Audit) Rules 2014 prescribed by the Central Government underSection 148(1)(d) of the Companies Act 2013 are not applicable to the Company as perinformation produced before us.

vii. In respect of statutory dues:

a) According to the records of the Company undisputed statutory dues includingProvident Fund Employees' State Insurance Income Tax Sales Tax Wealth Tax ServiceTax duty of Customs Duty of Excise Value Added Tax Cess and other material statutorydues have been generally regularly deposited with the appropriate authorities. Accordingto the information and explanations given to us no undisputed amounts payable in respectof the aforesaid dues were outstanding as at March 31 2015 for a period of more than sixmonths from the date of becoming payable.

b) Details of dues of Income Tax Sales Tax Wealth Tax Service Tax duty of CustomsDuty of Excise Value Added Tax Cess which have not been deposited as on March 31 2015on account of any disputes are nil.

c) According to the records of the Company there are no amounts that are due to betransferred to the Investor Education and Protection Fund in accordance with the relevantprovisions of the Companies Act 1956 (1 of 1956) and rules made there under.

viii.The Company has accumulated losses at the end of the financial year which is notmore than fifty per cent of its net worth and the Company has not incurred cash lossesduring the financial year covered by the audit and in the immediately preceding financialyear.

ix. Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto financial institutions banks and debenture holders.

x. The Company has not given any guarantees to any other company banks and financialinstitutions.

xi. The Company has not raised new term loans during the year. The term loansoutstanding at the beginning of the year is nil and hence comments as to purpose of termloan and its actual utilization are not applicable.

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 material fraud on or by the Company notices or reported during the year nothave been informed of any such case by the Management.

For M/s. Suresh R Shah & Associates
Chartered Accountants
Date: 23/05/2015
Place: Ahmedabad
Sd/-
Suresh R Shah
(Proprietor)
FRN. No. 110691W