You are here » Home » Companies » Company Overview » Rahul Merchandising Ltd

Rahul Merchandising Ltd.

BSE: 531887 Sector: Others
NSE: N.A. ISIN Code: INE149D01011
BSE LIVE 15:14 | 11 Apr Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.27
PREVIOUS CLOSE 9.75
VOLUME 12
52-Week high 10.25
52-Week low 9.27
P/E
Mkt Cap.(Rs cr) 3
Buy Price 9.32
Buy Qty 110.00
Sell Price 0.00
Sell Qty 0.00
OPEN 9.27
CLOSE 9.75
VOLUME 12
52-Week high 10.25
52-Week low 9.27
P/E
Mkt Cap.(Rs cr) 3
Buy Price 9.32
Buy Qty 110.00
Sell Price 0.00
Sell Qty 0.00

Rahul Merchandising Ltd. (RAHULMERCHAND) - Auditors Report

Company auditors report

To the Members of

Rahul Merchandising Ltd Report on the Financial Statements

We have audited the accompanying financial statements of Rahul Merchandising Limited("the Company") which comprise the Balance Sheet as at March 312016 theStatement of Profit and Loss and Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Managements' 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 accountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularitiesselection and application of appropriate accounting policies making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's 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 there-under.

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 theauditors' judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditors consider 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 but not for the purpose of expressing anopinion on whether the Company has in place and adequate internal financial controlssystem over financial reporting and the operating effectiveness of such controls. An auditalso includes 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.

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 March312016 and 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 2016 ("the Order")issued by the Central Government of India in terms of Section 143 (11) of the Act we givein the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 the Cash Flow Statementdealt with 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 March312016 taken on record by the Board of Directors none of the directors is disqualifiedas on March 312016 from being appointed as a director in terms of Section 164 (2) of theAct.

f) In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlswere working effectively as at March 31 2016 based on internal control over financialreporting criteria established by the company considering the essential components ofinternal control stated In the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India.

g) 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) The Company has disclosed the impact of pending litigations in Note 15- ContingentLiabilities of its financial statements.

ii) The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii) No amounts are required to be transferred to the Investor Education and ProtectionFund by the Company.

For Jagdish Sapra & Co
Chartered Accountants
(Firm Registration No. 001878N)
Sd/-
Vipal Kalra
Partner
Membership No. 084583
Place: New Delhi
Date: 26.05.2016

Annexure to the Independent Auditors' Report

(Referred to in paragraph 1 under Report on other Legal & Regulatory requirements'of our Report of even date)

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

b) The Company has a regular program of physical verification of its fixed assetsthrough which all fixed assets are verified in a phased manner over a period of threeyears. In our opinion this periodicity of physical verification is reasonable havingregard to the size of the Company and the nature of its assets. As informed to us nomaterial discrepancies were noticed on such verification as carried out under the aboveprogram during the current year.

c) The title deeds of immovable properties are held in the name of the Company.

ii. The inventories except goods in transit have been physically verified by themanagement at reasonable intervals during the year and no material discrepancies werenoticed on physical verification.

iii. The Company has not granted any loans secured or unsecured to companies firmslimited liability partnerships or other parties covered in the register maintained underSection 189 of the Companies Act 2013 as per information and explanations given to us.Consequently the provisions of clauses 3(iii)(a) (iii)(b) and (iii)(c) of the Order arenot applicable.

iv. In our opinion and according to the information and explanations given to us inrespect of loans investments guarantees and security provisions of section 185 and 186of the Companies Act 2013 have been complied with.

v. As per information and explanations given to us the Company has not accepted anydeposits from the public and hence the provisions-of clause 3 (v) of the Order are notapplicable.

vi. We have broadly reviewed the books of account relating to materials labour andother items of cost maintained by the Company prescribed by the Central Government underSection 148 (1) of The Companies Act 2013 and are of the opinion that prima facie theprescribed accounts and records have been made and maintained. However we are notrequired to and have not carried out any detailed examination of such accounts andrecords.

vii. a) According to the information and explanations given to us and the records ofthe company examined by us the Company has been generally regular in depositingundisputed statutory dues including

Provident Fund Employees' State Insurance Income Tax Sales Tax Service Tax Duty ofCustoms Duty of Excise Value Added Tax Cess and other statutory dues with theappropriate authorities during the year. We are informed that there are no undisputedstatutory dues as at the year end outstanding for a period of more than six months fromthe date they become payable.

b) There are no dues in respect of income tax sales tax service tax duty of customduty of excise and value added tax that have not been deposited with the-appropriateauthorities on account of any dispute other than those mentioned below:-

Nature of dues Amount (Rs. Lakhs) Period to which amount relates Forum where the dispute is pending
Income Tax 0.01 2005-06 & 2007-08 Income Tax Appellate Tribunal
Income Tax 0.04 2010-11 Asstt. Commissioner of Income Tax

viii. According to the records of the Company examined by us and on the basis ofinformation and explanations given to us the Company has not defaulted in repayment ofdues to banks financial institutions and Government. The Company has not obtained anyborrowings by way of debentures.

ix. In our opinion and according to the information and explanations given to us termloans have been applied for the purpose for which they were raised. The Company has notraised any monies by way of initial public offer or further public offer (including debtinstruments).

x. To the best of our knowledge and according to the information and explanations givento us no fraud by the Company and material fraud on the Company by its officers oremployees has been noticed or reported during the year.

xi. In our opinion and according to the information and explanations given to usmanagerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the CompaniesAct 2013.

xii. In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Therefore the provisions of clause (xii) of the Order arenot applicable to the Company.

xiii. In our opinion and according to the information and explanations given to us alltransactions with the related parties are in compliance with sections 177 and 188 of theCompanies Act 2013 where applicable and details have been disclosed in the FinancialStatements etc. as required by the applicable accounting standards.

xiv. According to the information and explanations given to us the Company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year review.

xv. According to the information and explanations given to us the Company has notentered into any non-cash transactions with directors or persons connected with them.

xvi. In our opinion and according to the Information and explanations given to us theCompany is not required to be registered under section 45-IA of the Reserve Bank of IndiaAct 1934.

For Jagdish Sapra & Co
Chartered Accountants
(Firm Registration No. 001878N)
Sd/-
Vipal Kalra
Partner
Membership No. 084583
Place: New Delhi
Date: 26.05.2016