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RPP Infra Projects Ltd.

BSE: 533284 Sector: Infrastructure
NSE: RPPINFRA ISIN Code: INE324L01013
BSE LIVE 15:40 | 15 Dec 301.45 2.20
(0.74%)
OPEN

302.40

HIGH

306.00

LOW

297.65

NSE 15:58 | 15 Dec 300.80 0.95
(0.32%)
OPEN

301.70

HIGH

307.00

LOW

298.10

OPEN 302.40
PREVIOUS CLOSE 299.25
VOLUME 11518
52-Week high 362.20
52-Week low 163.00
P/E 25.57
Mkt Cap.(Rs cr) 681
Buy Price 301.45
Buy Qty 20.00
Sell Price 0.00
Sell Qty 0.00
OPEN 302.40
CLOSE 299.25
VOLUME 11518
52-Week high 362.20
52-Week low 163.00
P/E 25.57
Mkt Cap.(Rs cr) 681
Buy Price 301.45
Buy Qty 20.00
Sell Price 0.00
Sell Qty 0.00

RPP Infra Projects Ltd. (RPPINFRA) - Auditors Report

Company auditors report

To

The Members of

M/s. RPP INFRA PROJECTS LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/s. RPP InfraProjects Limited which comprise the Balance Sheet as at 31st March 2016 the Statementof Profit and Loss the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 with respect to the preparation of these standalonefinancial 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 of 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 standalone financial statementsbased on our audit.

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 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 suffcient and appropriate toprovide 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 March 2016 and its profit/loss and its cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 (‘theOrder’) issued by the Central Government of India in terms of sub-section (11) ofSection 143 of the Act we give in the Annexure A a statement on the matters specified inthe paragraph 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 standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms of Section164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B".

(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. or the Company does not have any pending litigations which would impact itsfinancial position

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

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

For KARTHIKEYAN & JAYARAM
Chartered Accountants
CA G.N. JAYARAM.FCA.DISA
Partner
Place: Erode Membership No: 200 – 27291
Date: 27.05.2016 Firm Reg. No: - 007570S

Annexure A to the Auditors’ Report

The Annexure referred to in Independent Auditors’ Report to the members of theCompany on the standalone financial statements for the year ended 31st March 2016 wereport that:

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

b) The fixed assets have been physically verified by the management during the yearwhich in our opinion is reasonable having regard to the size of the company and thenature of its assets. No material discrepancies were noticed on such verification.

c) The title deeds of all the immovable properties of the Company shown under the FixedAssets schedule are held in the name of Company.

2. The inventories have been physically verified by the management at reasonableintervals during the year. In our opinion the frequency of such verification isreasonable and no discrepancies were noticed at the time of verification.

3. a) The company has not granted loans secured or unsecured to companies firmsLLP’s or other parties covered in the register maintained U/s. 189 of the Act.

b) & c) Not applicable since the company has not granted any loans to the partiescovered in the register maintained U/s. 189 of the Act.

4. The company has not given any loans / investments / guarantees to which theprovisions of Sec. 186 of the Act apply.

5. The company has not accepted any deposits to which the provisions of Sec. 73 to 76or any other relevant provisions of the Act and the rules framed there under and thedirections issued by the RBI are applicable. Hence this clause is not applicable.

6. We have broadly reviewed the books of account maintained by the company pursuant tothe Rules made by the Central Government for the maintenance of cost records u/s 148 ofthe Act and are of the opinion that prima facie the prescribed accounts and records havebeen made and maintained. We have however not made a detailed examination of the costrecords with a view to determine whether they are accurate or complete.

7. a) Undisputed statutory dues including PF ESI income-tax sales-tax service taxduty of custom duty of excise VAT cess have generally been regularly deposited with theappropriate authorities though there has been a slight delay in a few cases.

b) There are no dues of Sales Tax Customs Duty Excise Duty and VAT which have notbeen deposited on account of any dispute. The particulars of Income tax Service Tax (orany other tax) which have not been deposited on account of any dispute is as follows:

Name of Statute Nature of the dues Amount in Rs. Period to which the amount relates Forum where the dispute is pending
Income Tax Act Income Tax 2429318 2005-06 Assistant Commissioner of Income TaxCircle-IErode
Income Tax Act Income Tax 705443 2006-07 Assistant Commissioner of Income TaxCircle-IErode
Income Tax Act Income Tax 8268 2007-08 Assistant Commissioner of Income TaxCircle-IErode
Income Tax Act Income Tax 9122896 2008-09 Assistant Commissioner of Income TaxCircle-IErode
Income Tax Act Income Tax 18306420 2009-10 Income Tax Appellate Tribunal Chennai
Income Tax Act Income Tax 13152700 2010-11 Commissioner of Income Tax Coimbatore
Income Tax Act Income Tax 19352640 2011-12 Commissioner of Income Tax Coimbatore
Income Tax Act Income Tax 14202440 2012-13 Assistant Commissioner of Income TaxCircle-IErode
Income Tax Act Income Tax 2966600 2013-14 Income Tax Department-CPC
Income Tax Act TDS 8316133 2008-16 TDS -CPC
Central Excise Act Service Tax 25228175 2010-11 Commissioner of Central ExciseSalem
Contingent Liabilities 842515307 Bank Guarantees
18812798 Inland Letterof Credits

8. The Company had no loans from a Financial Institution or Bank or government or duesto debenture holders & therefore this clause is not applicable to the Company.

9. Based on our audit procedures we are of the opinion that the company has notdefaulted in repayment of dues to its bank financial institution and Government orDebenture holders.

10. Based upon the audit procedures performed we report that no fraud by the companyand no fraud on the Company by its Officers / employees has been noticed or reportedduring the course of our audit.

11. The Managerial Remuneration has been paid / provided in accordance with therequisite approvals mandated by Sec. 197 read with Schedule V to the Act.

12. The Company is not a Nidhi Co. and therefore clause 3(12) of the Order is notapplicable to the Company.

13. In our opinion all the Related Party Transactions entered into by the Companyduring the year are in compliance with the provisions Sec. 188 & 177 of the Act andthe details thereof have been disclosed in the Financial Statements as required by theAccounting standards and the Act.

14. The Company has not made any preferential allotment / private placement of sharesduring the year and therefore this clause is not applicable to the Company.

15. The Company has not entered into any non-cash transactions with directors / personsconnected with him as stipulated u/s. 192 of the Act. Clause 3(15) of the Order istherefore not applicable to the Company.

16. In our opinion the Company is not required to be registered u/s 45-IA of theReserve Bank of India Act 1934.

For KARTHIKEYAN & JAYARAM
Chartered Accountants
CA G.N. JAYARAM.FCA.DISA
Partner
Place: Erode Membership No: 200 – 27291
Date: 27.05.2016 Firm Reg. No: - 007570S