You are here » Home » Companies » Company Overview » Raja Bahadur International Ltd

Raja Bahadur International Ltd.

BSE: 503127 Sector: Infrastructure
NSE: N.A. ISIN Code: INE491N01016
BSE LIVE 09:43 | 16 Aug 934.80 -49.20
(-5.00%)
OPEN

934.80

HIGH

934.80

LOW

934.80

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 934.80
PREVIOUS CLOSE 984.00
VOLUME 1
52-Week high 1260.00
52-Week low 900.00
P/E
Mkt Cap.(Rs cr) 23
Buy Price 0.00
Buy Qty 0.00
Sell Price 984.50
Sell Qty 111.00
OPEN 934.80
CLOSE 984.00
VOLUME 1
52-Week high 1260.00
52-Week low 900.00
P/E
Mkt Cap.(Rs cr) 23
Buy Price 0.00
Buy Qty 0.00
Sell Price 984.50
Sell Qty 111.00

Raja Bahadur International Ltd. (RAJABAHADURINT) - Auditors Report

Company auditors report

To

The Members of Raja Bahadur International Limited Report on the Financial Statements

1. We have audited the accompanying financial statements of Raja Bahadur InternationalLimited (‘the Company’) which comprise the Balance Sheet as at 31 March 2016the 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

2. The Company’s Board of Directors is responsible for the matters stated inSection 134(5) of the Companies Act 2013 (‘the Act’) with respect to thepreparation of these financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014.This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor’s Responsibility

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

We have taken in to 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

An audit involves performing procedure 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 statement 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 a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements. We believe that the audit evidence wehave obtained is sufficient and appropriate to provide a basis for our audit opinion onthe financial statements.

Opinion

4. Without qualifying our opinion we draw attention to Note number 24(I) of thefinancial statement regarding accounting policy of the Company regarding projectaccounting.

5. In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts read with notes thereon the aforesaid financial statementsgive the information required by the Act in the manner so required and give a true andfair view in conformity with the accounting principles generally accepted in India:

i) in the case of the Balance Sheet of the state of affairs of the Company as at 31March 2016;

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

6. As required by the Companies (Auditor’s Report) Order 2016 issued by theCentral Government of India in terms of sub section (11) of section 143 of the Act wegive in the Annexure A a statement on the matters specified in paragraphs 3 and 4 of theOrder to the extent applicable.

7. As required by section 143(3) of the Act we report that: i) we have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit; ii) in our opinion proper books ofaccount as required by law have been kept by the Company so far as it appears from ourexamination of those books; iii) the Balance Sheet the Statement of Profit and Loss andthe Cash Flow Statement dealt with by this Report are in agreement with the books ofaccount; iv) 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; v) relying solely on the basis of written representations receivedfrom the directors as on 31 March 2016 and taken on record by the Board of Directors noneof the directors are disqualified as on 31 March 2016 from being appointed as a directorin terms of section 164(2) of the Act; vi) in our opinion as stated in "AnnexureB" to this report the Company has not established its internal financial controlsover financial reporting on criteria based on or 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. Owing tothis reason we are unable to obtain sufficient appropriate audit evidence to provide abasis for our opinion whether the Company had adequate internal financial controls overfinancial reporting and whether such internal financial controls were operatingeffectively as at 31 March 2016;

8. 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 opinionrelying on the explanations 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.

For J. K. Doshi & Co.

Chartered Accountants

Firm Registration No. 102720W

Paresh V Dalal

Partner

FCA 033355

Place: Mumbai

Date: May 30 2016

ANNEXURE – A TO THE INDEPENDENT AUDITORS’ REPORT OF EVEN DATE TOTHESHAREHOLDERS OF RAJA BAHADUR INTERNATIONAL LIMITED

(Referred to in paragraph 7 under Report on Other Legal and Regulatory Requirements)

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 CustomDuty Excise Duty Value Added Tax Cess and other statutory dues as applicable with theappropriate authorities. There were no undisputed arrears of statutory outstanding as at31 March 2016 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 2016.

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 not applicable.

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) of the 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

Place: Mumbai

Date: May 30 2016

Annexure - B to the Auditors’ Report on the Internal Financial Controls underClause (i) of Sub-section 3 of Section 143 of the Companies Act 2013 ("theAct")

We were engaged to audit the internal financial controls over financial reporting ofRaja Bahadur International Limited ("the Company") as of 31 March 2016 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’). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company’s policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required 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 processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting 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 havea material 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 2016.

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

Place: Mumbai

Date: May 30 2016