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Raja Bahadur International Ltd.

BSE: 503127 Sector: Infrastructure
NSE: N.A. ISIN Code: INE491N01016
BSE LIVE 14:06 | 12 Dec 840.00 -25.90
(-2.99%)
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HIGH

845.00

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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 845.00
PREVIOUS CLOSE 865.90
VOLUME 29
52-Week high 1240.00
52-Week low 810.00
P/E
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 840.00
Sell Qty 1.00
OPEN 845.00
CLOSE 865.90
VOLUME 29
52-Week high 1240.00
52-Week low 810.00
P/E
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 840.00
Sell Qty 1.00

Raja Bahadur International Ltd. (RAJABAHADURINT) - Auditors Report

Company auditors report

INDEPENDENT AUDITORS' REPORT

To

The Members of Raja Bahadur International Limited

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of Raja Bahadur InternationalLimited ('the Company') which comprise the Balance Sheet as at 31 March 2017 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

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 that give a true and fair 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 (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding 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.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on ouraudit.

In conducting our audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the rules made thereunder.

We conducted our audit in accordance with the Standard on Auditing specified under the143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements 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' judgement 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 Board of Directors as well as evaluating the overallpresentation of the financial statements.

OPINION

Without qualifying our report we state that in respect of revenue recognized from thereality business we have relied solely on the certification received from a registeredarchitect.

Subject to the above in our opinion and to the best of our information and accordingto the explanations given to us the said accounts read with notes thereon the aforesaidfinancial statements give the information required by the Act in the manner so requiredand give a true and fair view in conformity with the accounting principles generallyaccepted in India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31March 2017;

ii) in the case of the Statement of Profit and Loss of the loss for the year ended onthat date; and

iii) in the case of the Statement of Cash flow for the cash flows for the year endedon that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of sub section (11) of section 143 of the Act we give in theAnnexure A a statement on the matters specified in paragraphs 3 and 4 of the Order tothe extent applicable.

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

i) we have sought and obtained all information and explanations as mentioned in theforegoing paragraphs which to the best of our knowledge and belief were necessary for thepurposes of our audit;

ii) 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;

iii) 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;

iv) in our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with relevant rule issuedthereunder;

v) relying solely on the basis of written representations received from the directorsas on 31 March 2017 and taken on record by the Board of Directors none of the directorsare disqualified as on 31 March 2017 from being appointed as a director in terms ofsection 164(2) of the Act;

vi) in our opinion as stated in “Annexure B” to this report the Company hasnot established its internal financial controls over financial reporting on criteria basedon or considering the essential components of internal control stated in the Guidance Noteon Audit of Internal Financial Controls Over Financial

Reporting issued by the Institute of Chartered Accountants of India. Owing to thisreason we are unable to obtain sufficient appropriate audit evidence to provide a basisfor our opinion whether the Company

had adequate internal financial controls over financial reporting and whether suchinternal financial

controls were operating effectively as at 31 March 2017;

3. 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 relying on theexplanations given to us;

i) The Company does not have any pending litigations which would impact its financialposition;

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

iii) There has been no delay in transferring the amounts required to be transferredto the Investor Education and Protection Fund by the Company.

iv) The Company has provided requisite disclosures in the financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8th November2016 to 30th December 2016.

However we are unable to obtain sufficient and appropriate audit evidence to report onwhether the disclosures are in accordance with books of account maintained by the Companyand as produced to us by the Management.

For J. K. Doshi & Co.

Chartered Accountants

Firm Registration No. 102720W

Paresh V. Dalal

Partner

FCA 033355

Mumbai : 29 May 2017

ANNEXURE - A

TO THE INDEPENDENT AUDITORS' REPORT OF EVEN DATE TO THE SHAREHOLDERS OF RAJA BAHADURINTERNATIONAL LIMITED

As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment in terms of sub section (11) of section 143 of the Act and on the basis ofsuch checks as we considered appropriate and according to the information and explanationsgiven to us during the course of the audit we further report that: -

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

b. The fixed assets were physically verified by the management during the year as perthe program under which all the fixed assets of the Company are verified in a phasedmanner. We are informed that no material discrepancies were noticed on such verification.In our opinion the frequency of verification is reasonable.

c. According to the information and explanation given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable property are heldin the name of the Company.

2. a. Inventories have been physically verified by the management during the year atreasonable intervals.

b. In our opinion the procedures of physical verification of inventory followed by themanagement are reasonable and adequate in relation to the size of the Company and thenature of its business.

c. The Company has maintained proper records of inventory. The discrepancies betweenthe physical inventory and the book records noticed on physical verification were notmaterial and have been properly dealt with in the books of account.

3. The Company has not granted any loans secured or unsecured to companies firm orother parties covered in the register maintained under Section 189 of the Act.

4. In our opinion and according to the information and explanations given to us theCompany has not entered into any transaction as specified in section 185 and 186 of theAct. Accordingly paragraph 3(iv) of the Order is not applicable.

5. The Company has not accepted any deposits from the public within the meaning of theprovisions of Sections 73 to 76 or any other relevant provisions of the Act and Rulesframed thereunder.

6. We have broadly reviewed the cost records maintained by the Company pursuant to theRules made by the Central Government for the maintenance of cost records under sub section(1) of sec 148 of the Act and we are of the opinion that prima facie the prescribedaccounts and records have been made and maintained. However we have not carried out adetailed examination of such records.

7. a. According to the information and explanations given to us by the management andon the basis of examination of the books of accounts carried out by us the Company hasbeen generally regular in depositing undisputed statutory dues including Provident FundEmployees' State Insurance Income-tax Sales-tax Wealth-Tax Service Tax Custom DutyExcise Duty Value Added Tax Cess and other statutory dues as applicable with theappropriate authorities. There were no undisputed arrears of statutory outstanding as at31st March 2017 for a period of more than six months from the date they became payable.

b. According to the information and explanations given to us by management and therecords of the Company examined by us there were no disputed dues in respect ofIncome-tax Sales-tax Wealth-tax Service Tax Custom Duty Excise Duty Value Added Taxand Cess which have not been deposited as at 31 March 2017.

8. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to banks and financial institutions duringthe year. The Company has not issued any debentures.

9. The Company has raised money by way of term loans during the year. In our opinionand as per the explanations given to us the same were applied for the purpose for whichthey were raised.

10. According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

11. According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

12. In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable.

13. According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

14. According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

15. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For J. K. Doshi & Co.

Chartered Accountants

Firm Registration No. 102720W

Paresh V. Dalal

Partner

FCA 033355

Mumbai : 29 May 2017

ANNEXURE - B

TO THE AUDITORS' REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (I) OFSUB-SECTION 3 OF SECTION 143 OF THE COMPANIES ACT 2013 (“THE ACT”)

We were engaged to audit the internal financial controls over financial reporting ofRaja Bahadur International Limited (“the Company”) as of 31 March 2017 inconjunction with our audit of the financial statements of the Company for the year endedon that date.

MANAGEMENT'S RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired 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 conducted in accordance with theGuidance Note on Audit of Internal Financial Controls over Financial Reporting (the“Guidance Note”) and the Standards on Auditing issued by ICAI to the extentapplicable to an audit of internal financial controls both issued by the Institute ofChartered Accountants of India.

Because of the matter described in Disclaimer of Opinion paragraph below we were notable to obtain sufficient appropriate audit evidence to provide a basis for an auditopinion on internal financial controls over financial reporting of the Company.

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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

2. provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

3. provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

DISCLAIMER OF OPINION

According to the information and explanations given to us the Company has notestablished its internal financial controls over financial reporting on criteria based onor considering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting issued by the Institute ofChartered Accountants of India. Owing to this reason we are unable to obtain sufficientappropriate audit evidence to provide a basis for our opinion whether the Company hadadequate internal financial controls over financial reporting and whether such internalfinancial controls were operating effectively as at 31 March 2017.

We have considered the disclaimer reported above as far as feasible in determiningthe nature timing and extent of audit tests applied in our audit of the standalonefinancial statements of the Company.

For J. K. Doshi & Co.

Chartered Accountants

Firm Registration No. 102720W

Paresh V. Dalal

Partner

FCA 033355

Mumbai : 29 May 2017