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Sarda Proteins Ltd.

BSE: 519242 Sector: Industrials
NSE: N.A. ISIN Code: INE995U01011
BSE 00:00 | 13 Apr 4.75 0
(0.00%)
OPEN

4.75

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4.75

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4.75

NSE 05:30 | 01 Jan Sarda Proteins Ltd
OPEN 4.75
PREVIOUS CLOSE 4.75
VOLUME 1575
52-Week high 4.75
52-Week low 4.72
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.75
CLOSE 4.75
VOLUME 1575
52-Week high 4.75
52-Week low 4.72
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sarda Proteins Ltd. (SARDAPROTEINS) - Auditors Report

Company auditors report

TO

THE MEMBERS OF SARDA PROTEINS LIMITED Report on the Financial Statements

We have audited the accompanying financial statements of M/s SARDA PROTEINS LIMITEDwhich comprise the Balance Sheet as at 31 March 2017 the Statement of Pro t and Loss andthe Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Financial Statement

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the 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 the maintenance of adequate accountingrecords in accordance with the provision of the Act for safeguarding of the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of internalfinancial control that were operating the ectively 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 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 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 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 Directors as well as evaluating the overall presentationof the financial statements.

We believe that the audit evidence we have obtained is su cient 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

31st March 2017 and its profit and its cash flows for the year ended on that date.

Report on the other Legal and regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")as amended 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 thematters 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 purpose of our audit. b) In our opinionproper books of account as required by law have been kept by the Company so far as itappears from our examination of those books. c) The Balance Sheet the Statement of Profitand Loss and the Cash Flow Statement dealt with by this Report are in agreement with thebooks of account; d) In our opinion the aforesaid 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 written representations received fromthe directors as on March 31 2017 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2017 from being appointed as a director in termsof Section 164 (2) of the Act. f) With respect to the adequacy of the internal financialcontrols over financial reporting of the Company and the operating effectiveness of suchcontrols refer to our separate 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) TheCompany does not have any pending litigations which would impact its financial position.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 wererequired to be transferred to the Investor Education and Protection Fund by the Company.iv) The company has provided requisite disclosures in its 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 appropriate auditevidence for the purpose of verification.

For KHETAWAT AGARWAL & CO.
Chartered Accountants
FRN : 003960C
PLACE : Alwar (Raj.)
DATE : 27thMay 2017
M.L. AGARWAl
Partner
M.No : 072854

"ANNEXURE-A" TO THE INDEPENDENT AUDITORS' REPORT

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the financial statements for the year ended 31 March 2017 we report that:

1. (i) The Company has maintained proper records showing full particulars quantitativedetails and situation of fixed assets.

(ii) All the assets have not been physically verified by the management during theyear but there is a regular program of verification which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets.

(iii) The title deeds of immovable properties are not held in the name of the companybut working on rented premises.

2. (i) The management has conducted the physical verification of inventory atreasonable intervals.

(ii) The discrepancies noticed on physical verification of the inventory as compared tobooks records which has been properly dealt within the books of account were not material.

3. 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 Act. Accordingly the provisions of clause 3 (iii) (a) to (C) of theOrder are not applicable to the Company and hence not commented upon.

4. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Companies Act 2013in respect of loans investments guarantees and security.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits from the public and therefore the provisions of Section73 and 76 of the Companies Act 2013 and Rules framed there under are not applicable tothe Company.

6. According to the information and explanations given to us the Central Governmenthas prescribed the maintenance of cost records under sub-section (l) of section 148 of theCompanies Act 2013 in respect of services carried out by the Company but since companyturnover is less than 35cr hence it's not falling under the criteria for maintenance ofcost records.

7. (i) According to the information and explanations given to us and according to thebooks and records as produced and examined by us in our opinion the undisputed statutorydues in respect of provident fund employees state insurance income tax sales taxwealth tax customs duty excise duty cess and other material statutory dues asapplicable have been regularly deposited by the Company during the year with theappropriate authority.

According to the information and explanations given to us no undisputed amountspayable in respect of income tax sales tax wealth tax customs duty excise duty andcess were in arrears as at 31st March 2017 for a period of more than six months from thedate they become payable.

(ii) According to the information and explanation given to us there are no dues ofincome tax sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute.

8 Based on our audit procedures and on the information and explanations given by themanagement in our opinion the Company has not defaulted in repayment of dues to anyfinancial institution or bank as at the balance sheet date.

9 To the best of our knowledge and belief and according to the information andexplanations given to us company has not raised money by way of initial public offer orfurther public offer including debt instruments and has not taken any term loan.

10 To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company or on the company by its officer oremployees was noticed or reported during the year.

11 Based upon the audit procedures performed and the information and explanations givenby the management the managerial remuneration has been paid or provided in accordancewith the requisite approvals mandated by the provisions of section 197 read with ScheduleV to the Companies Act.

12 In our opinion the Company is not a nidhi Company. Therefore the provisions ofclause 4 (xii) of the Order are not applicable to the Company.

13 In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards.

14 Based upon the audit procedures performed and the information and explanations givenby the management the company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3(xiv) of the Order are not applicable tothe Company and hence not commented upon.

15 Based upon the audit procedures performed and the information and explanations givenby the management the company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3(xv) ofthe Order are not applicable to the Company and hence not commented upon.

16 In our opinion the company is not required to be registered under section 45IA ofthe Reserve Bank of India Act 1934 and accordingly the provisions of clause 3(xvi) ofthe Order are not applicable to the Company and hence not commented upon.

17 The company has provided requisite disclosures in its financial statements as toholdings as well as dealings in Specified Bank Notes during the period from 8th November2016 to 30th December 2016 and they are in accordance with books of accounts maintainedby the Company.

For KHETAWAT AGARWAL & CO.
Chartered Accountants
FRN : 003960C
PLACE : Alwar (Raj.)
DATE : 27thMay 2017
M.L. AGARWAl
Partner
M.No : 072854