You are here » Home » Companies » Company Overview » R&B Denims Ltd

R&B Denims Ltd.

BSE: 538119 Sector: Industrials
NSE: N.A. ISIN Code: INE012Q01013
BSE LIVE 09:30 | 17 Oct 30.60 -3.10
(-9.20%)
OPEN

30.60

HIGH

30.60

LOW

30.60

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 30.60
PREVIOUS CLOSE 33.70
VOLUME 5000
52-Week high 45.50
52-Week low 12.00
P/E
Mkt Cap.(Rs cr) 43
Buy Price 30.50
Buy Qty 5000.00
Sell Price 37.05
Sell Qty 5000.00
OPEN 30.60
CLOSE 33.70
VOLUME 5000
52-Week high 45.50
52-Week low 12.00
P/E
Mkt Cap.(Rs cr) 43
Buy Price 30.50
Buy Qty 5000.00
Sell Price 37.05
Sell Qty 5000.00

R&B Denims Ltd. (RBDENIMS) - Auditors Report

Company auditors report

Independent Auditor’s Report On Standalone Half yearly Financial Results andStandalone Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015

To The Members Of

R & B DENIMS LIMITED

I have audited the standalone half yearly financial results of R & B Denims Limited("the company") for the half year ended 31st March 2016 and the standalonefinancial results for the year ended 31st March 2016 attached herewith being submittedby the company pursuant to the requirement of Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015. Attention is drawn to the factthat the figures for the Standalone half year ended March 31 2016 and the correspondingStandalone half year ended in the previous year as reported in these Standalone financialresults are the balancing figures between audited figures in respect of the fullStandalone financial year and the published year to date figures up to the end of theStandalone half year of the relevant Standalone financial year. These Standalone halfyearly financial results as well as the Standalone year to date financial results havebeen prepared on the basis of the interim Standalone financial statements which are theresponsibility of the company’s management.

My responsibility is to express an opinion on these Standalone financial results basedon my audit of such interim financial statements which have been prepared in accordancewith the recognition and measurement principles laid down in Accounting Standard forInterim Financial Reporting (AS 25 / Ind AS 34) prescribed under Section 133 of theCompanies Act 2013 read with relevant rules issued there under; or by the Institute ofChartered Accountants of India as applicable and other accounting principles generallyaccepted in India.

I conducted my audit in accordance with the auditing standards generally accepted inIndia. Those standards require that I have plan and perform the audit to obtain reasonableassurance about whether the Standalone financial results are free of materialmisstatement(s). An audit includes examining on a test basis evidence supporting theamounts disclosed as Standalone financial results. An audit also includes assessing theaccounting principles used and significant estimates made by management. I believe that myaudit provides a reasonable basis for my opinion.

In my opinion and to the best of my information and according to the explanations givento me these Standalone half yearly financial results as well as the Standalone year todate results:

i. are presented in accordance with the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 in this regard; and

ii. give a true and fair view of the net profit/ loss and other financial informationfor the Standalone half year ended 31st March 2016 as well as the standalone financialresults for the year ended 31st March 2016.

FOR PRADEEP SINGHI & ASSOCIATES
Chartered Accountants
FRN: 108029W
Place: Surat
Date: 20/05/2016 Sd/-
PRADEEP KUMAR SINGHI
Proprietor
M. NO. 024612

ANNEXURE A TO THE AUDITOR’S REPORT

As required by the Companies (Auditor's Report) Order 2016 and according to theinformation and explanations given to us during the course of audit and on the basis ofsuch checks as were considered appropriate I report that:

Sr. No. Particulars Auditors Remark
(i) (a). Whether the company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets; Yes company is maintaining proper records.
(b). Whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so whether the same have been properly dealt with in the books of account; Yes
(c). Whether title deeds of immovable properties are held in the name of the company. If not provide details thereof Yes
(ii) (a). Whether physical verification of inventory has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so how they have been dealt with in the books of account. Yes physical verification of inventory has been conducted at reasonable intervals by the management. No material discrepancies were noticed.
(iii) Whether the company has granted any loans secured or unsecured to companies firms or other parties covered by clause (76) of Section 2 of the Companies Act 2013. If so No such loans granted by the Company during the year under audit.
(a). Whether the terms and conditions of the grant of such loans are not prejudicial to the company's interest Not Applicable
(b). Whether receipt of the principal amount and interest are regular. If not provide details thereof; and Not Applicable
(c). If overdue amount is more than rupees five lakhs whether reasonable steps have been taken by the company for recovery of the principal and interest Not Applicable
(iv) In respect of loans investments and guarantees whether provisions of Section 185 and 186 of the Companies Act 2013 have been complied with. If not provide details thereof Not Applicable
(v) In case the company has accepted deposits whether the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act 2013 and the rules framed thereunder where applicable have been complied with? If not the nature of such contraventions be stated; If an order has been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal whether the same has been complied with or not? No. Company has not accepted any deposits. Directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under have been complied.
(vi) Where maintenance of cost records has been specified by the Central Government under sub- section (1) of section 148 of the Companies Act 2013 and whether such accounts and records have been made and maintained; Yes maintained
(vii) 1. Whether the company is regular in depositing undisputed statutory dues including provident fund employees' state insurance income-tax sales-Lax service tax duty of customs duty of excise value added tax and any other statutory dues with the appropriate authorities and if not the extent of the arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable shall be indicated by the auditor Yes
2. Where dues of income tax or sales tax or service tax or duty of customs or duty of excise or value added tax have not been deposited on account of any dispute then the amounts involved and the forum where dispute is pending shall be mentioned. (A mere representation to the concerned Department shall not be treated as a dispute). 1) Appeal is pending with Income Tax Appellate Tribunal for tax demand of Rs. 7335180/- for Assessment Year 2013-14.
2) Appeal with CESTAT is pending for levy of Custom Duty for Rs. 193179/- for import of Coal
(viii) Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes the period and amount of default to be reported (in case of banks and financial institutions lender wise details to be provided). No.
Not Applicable
(ix) Whether moneys raised by way of public issue/ follow-on offer (including debt instruments) and term loans were applied for the purposes for which those are raised. If not the details together with delays / default and subsequent rectification if any as may be applicable be reported; No Money has been raised by way of Public issue / follow-on offer during the period. However disbursement of Term Loan has been made by the Bank directly to the vendors. And there is no delay or default.
(x) Whether any fraud by the company or any fraud on the Company by its officers/ employees has been noticed or reported during the year; if yes the nature and the amount involved be indicated No.
Not Applicable
(xi) Whether managerial remuneration has been paid / provided in accordance with the requisite approvals mandated by the provisions of section 197 read with schedule V to the Companies Act? If not state the amount involved and steps taken by the company for securing refund of the same Yes. Managerial Remuneration has been paid / provided in accordance with provisions of section 197 and under other rules.
(xii) Whether the Nidhi Company has complied with the Net Owned Fund in the ratio of 1: 20 to meet out the liability and whether the Nidhi Company is maintaining 10% liquid assets to meet out the unencumbered liability Not Applicable
(xiii) Whether all transactions with the related parties are in compliance with Section 188 and 177 of Companies Act 2013 where applicable and the details have been disclosed in the Financial Statements etc. as required by the accounting standards and Companies Act 2013. Yes
(xiv) Whether the company has made any preferential allotment / private placement of shares or fully or partly convertible debentures during the year under review and if so as to whether the requirement of Section 42 of the Companies Act 2013 have been complied and the amount raised have been used for the purposes for which the funds were raised. If not provide details thereof The Company has not made any preferential allotment / private placement of shares or fully / partly convertible debentures during the year. Hence compliance for utilization of funds are not applicable.
(xv) Whether the company has entered into any non- cash transactions with directors or persons connected with him and if so whether provisions of Section 192 of Companies Act 2013 have been complied with. No.
Not Applicable
FOR PRADEEP SINGHI & ASSOCIATES
Chartered Accountants
FRN: 108029W
Place: Surat
Date: 20/05/2016 Sd/-
PRADEEP KUMAR SINGHI
Proprietor
M. NO. 024612