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Raghunath International Ltd.

BSE: 526813 Sector: Infrastructure
NSE: N.A. ISIN Code: INE753B01014
BSE LIVE 15:08 | 21 Nov 4.00 0
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OPEN

4.20

HIGH

4.20

LOW

4.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 4.20
PREVIOUS CLOSE 4.00
VOLUME 225
52-Week high 5.35
52-Week low 1.73
P/E
Mkt Cap.(Rs cr) 2
Buy Price 4.00
Buy Qty 75.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.20
CLOSE 4.00
VOLUME 225
52-Week high 5.35
52-Week low 1.73
P/E
Mkt Cap.(Rs cr) 2
Buy Price 4.00
Buy Qty 75.00
Sell Price 0.00
Sell Qty 0.00

Raghunath International Ltd. (RAGHUNATHINTL) - Auditors Report

Company auditors report

TO THE MEMBERS OF RAGHUNATH INTERNATIONAL LIMITED

Report on the Financial Statements

We have audited the accompanying Financial Statements of Raghunath InternationalLimited ("the Company") which comprise the Balance Sheet as March 31 2015the Statement 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

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 provision of the Act for safeguarding of the assets of the Company and for preventingand 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 adequate internal financialcontrol that were operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and operating effectiveness of such controls. Anaudit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by Company’s Directors as well asevaluating the overall 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 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 March31 2015 its profit and its cash flows for the year ended on that date.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditors’ Report) Order 2015("theOrder") issued by the Central Government of India in terms of sub section (11) ofsection 143 of the Act we give Specified in the Annexure a statement on thematters paragraphs 3 and 4 of the Order to the extent applicable.

2. 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 Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) with respect to other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2015 Refer to pointsnumber 23 and 24 of Notes to Accounts.

i. The company has disclosed the impact of pending litigations on its financialposition in its financial statements as referred to in Note 23 (a to d) to the financialstatements:

ii. The Company did not have any long term contracts including derivatives contracts;

iii. There were no amounts which are required to be transferred to Investor’sEducation and Protection Fund by the company.

For Kumar Piyush & Co.
Firm Registration No.: 005120N
Chartered Accountants
Sd/–
Virendra Kumar Goel
Place: New Delhi Partner
Date: May 30 2015 Membership No.: 083705

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

ANNEXURE REFERRED TO IN OUR INDEPENDENT AUDITORS’ REPORT OF EVEN DATE TO THEMEMBERS OF RAGHUNATH INTERNATIONAL LIMITED ON THE FINANCIAL STATEMENTS AS OF AND FOR THEYEAR ENDED MARCH 31 2015 WE REPORT THAT: company:

1. In respect of fixed assets

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

b. The fixed assets have been physically verified by the management during the year inaccordance with the regular program of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals. According to theinformation and explanations given to us no material discrepancies were noticed on suchverification.

2. In respect of inventory of the company:

a. As explained to us the inventories of finished goods were physically verified atregular intervals by the Management.

b. In our opinion and according to the information and explanation the procedures ofphysical verification of inventories followed by the management were reasonable andadequate in relation to the size of the company and the nature of its business.

c. In our opinion and according to the information and explanations given to us thecompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification of stocks as compared to book records.

3. The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act. Thereforethe provisions of Clause 3(iii) (iii)(a) and (iii)(b) of the said Order are notapplicable to the Company.

4. In our opinion and according to the information and explanation given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of inventory fixed assets and for the sale ofgoods and services. Further on the basis of our examination of the books and records ofthe Company and according to the information and explanations given to us we haveneither come across nor have been informed of any continuing failure to correct majorweaknesses in the aforesaid internal control system.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits during the year and does not have any unclaimeddeposits. Therefore the provisions of the clause 3 (v) of the Order are not applicable tothe Company.

6. As informed to us the central government has not prescribed maintenance of costrecords under sub section (1) of section 148 of the Act in respect of the activitiescarried on by company.

7. In respect of statutory dues:

a. According to the records of the company and information and explanations given tous the Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund Employees State Insurance (ESI) Income tax Tax Deducted AtSource Tax Collected At Source Professional Tax Sales Tax Value Added Tax (VAT)Wealth Tax Cess and other material statutory dues applicable to it with the appropriateauthorities.

b. According to the information and explanations given to us there were no undisputedamounts payable in respect of Income Tax Wealth Tax Sales Tax VAT Cess and othermaterial statutory dues in arrears / were outstanding as at March 31 2015.

c. According to the information and explanations given to us the company has paid allundisputed dues of excise duty. However the following are the particulars of disputeddues in respect of Income Tax Sales Tax Wealth Tax Service Tax Custom Duty and Cess:

Name of statute Nature of The Dues Amount (Rupees Period to which the amount relates Forum where the dispute is pending
In Lakh)
Rs. 24.69
Central Excise and Customs Act Excise (Demand was Rs. 32.86 Lakh and Rs. 8.17 Lakh has already been deposited under protest) Rs.6891.57 Assessment Year 2003 2004 The Deputy Commissioner Central Excise Kanpur Uttar Pradesh (The matter is sub judiced)
Central Excise and Customs Act Excise (Demand was Rs. 7191.57 Lakh and Rs. 300.00 Lakh has already been deposited under protest) Rs.196.28 Till the date of search i.e. 09.05.2008 The Commissioner of Central Excise Kanpur Uttar Pradesh (The matter is sub judiced)
Income Tax Act Income Tax (Demand raised by Income Tax Department for the Assessment Year 2005 2006) Assessment Year 2005 2006 The Commissioner of Income Tax (Appeals) New Delhi (The matter is sub judiced)

d. There were no amounts which are required to be transferred to Investor’sEducation and Protection Fund by the company.

8. The company does not have accumulated losses at the end of financial year. Thecompany has not incurred any Cash loss during the financialyear covered by our Audit.However it has incurred a cash loss of Rs. Nil out of the total loss of Rs.123 556.88 inthe immediate preceding financial year.

9. In our opinion and according to the information and explanations given to us thecompany has not defaulted in the repayment of dues to financial institutions banks anddebenture holders.

10. According to the information and explanations given to us the company has notgiven any guarantee for loans taken by others from banks or financial institutions duringthe year.

11. According to the information and explanations given to us the Term Loan of theCompany have been applied for the purpose for which they were raised.

12. To the best of our knowledge and according to the information and explanation givento us no fraud by the company and no material fraud on the Company has been noticed orreported during the year.

For Kumar Piyush & Co.
Firm Registration No.: 005120N
Chartered Accountants
Sd/–
Virendra Kumar Goel
Place: New Delhi Partner
Date: May 30 2015 Membership No.: 083705