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Rajath Finance Ltd.

BSE: 507962 Sector: Financials
NSE: N.A. ISIN Code: INE455H01013
BSE LIVE 15:14 | 15 Mar Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.23
PREVIOUS CLOSE 7.27
VOLUME 46
52-Week high 14.00
52-Week low 7.23
P/E
Mkt Cap.(Rs cr) 3
Buy Price 7.23
Buy Qty 20.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.23
CLOSE 7.27
VOLUME 46
52-Week high 14.00
52-Week low 7.23
P/E
Mkt Cap.(Rs cr) 3
Buy Price 7.23
Buy Qty 20.00
Sell Price 0.00
Sell Qty 0.00

Rajath Finance Ltd. (RAJATHFINANCE) - Auditors Report

Company auditors report

To the Members of M/S Rajath Finance Limited

Report on the Financial Statements

We have audited the accompanying financial statements of M/S Rajath Finance Limited("the Company") which comprise the BalanceSheet as at March 312015theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of the 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 standalone 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)Rules2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding of 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

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunderthe provisions 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 andthe disclosures 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 a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriatetoprovide a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March2015 and its profit/loss and its cash flows for theyear ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2015 and on the basis of such checks of the books ofrecords of the Company as we considered appropriate and according to the information andexplanations given to us we give in the Annexure a statement on the matters specified inparagraphs 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 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 the written representations received from the directors as on 31stMarch 2015taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in terms of Section164 (2) of the Act.

f) 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 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.

iii. There were no amounts which were requiredto be transferred to the InvestorEducation and Protection Fund by the Company

For S A D P AND CO

Chartered Accountants

FRN: 112625W

Place:-Rajkot

PARAG GUNVANTRAI BHUPTANI

Date:30/May/2015

(PARTNER)

Membership No.122330

The Annexure referred to in paragraph 1 of Our Report on "Other Legal andRegulatory Requirements".

We report that:

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

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

ii. Since the Company does not hold any physical inventory the requirement ofreporting of physical verification of inventory and maintenance of inventory records doesnot arise.

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

iv. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories & fixed assetsand for sale of goodsand services.During the course of our audit no major instanceofcontinuing failure to correct any weaknesses in the internal controlshas been noticed.

v. The Company has not accepted any deposits from the public covered under sections73to 76of the Companies Act2013.

vi. As per information & explanation given by the management maintenance of costrecords has not been specified by the Central Government under sub-section (1) of section148 of the Companies Act 2013.

vii. (a) According to the records of the company undisputed statutory dues includingProvident Fund Investor Education and Protection Fund Employees’ State InsuranceIncome-tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty value added taxcess and any other statutory dues to the extent applicable have generally been regularlydeposited with the appropriate authorities. According to the information and explanationsgiven to us there were no outstanding statutory dues as on 31st ofMarch2015for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us there is no amountpayable in respect of income tax wealth tax service tax sales tax customs duty exciseduty value added tax and cess whichever applicable which have not been deposited onaccount of any disputes.

(c) The provision of clause (vii)(c) of the order is not applicable on the company.

viii. The Company does not have accumulated losses at the end of financial year morethan fifty percent of its net worth and has not incurred cash loss during the financialyear and in the immediately preceding financial year.

ix. In our opinion and according to the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders as applicable to the company.

x. According to the information and explanations given to us the Company has not givenany guarantees for loan taken by others from a bank or financial institution.

xi. Based on our audit procedures and on the information given by the management thecompany has not taken any term loan during the year.

xii. According to the information and explanations given to us we report that no fraudon or by the Company has been noticed or reported during the year nor have we beeninformed of such case by the management.

For S A DP AND CO

Chartered Accountants

FRN: 112625W

Place:-Rajkot

PARAG GUNVANTRAI BHUPTANI

Date:30/May/2015

(PARTNER)

Membership No.122330