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Shangar Decor Ltd.

BSE: 540259 Sector: Others
NSE: N.A. ISIN Code: INE118R01016
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Shangar Decor Ltd. (SHANGARDECOR) - Auditors Report

Company auditors report

TO THE MEMBERS OF SHANGAR DECOR LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statementsof SHANGAR DECOR LIMITED ("the Company") which comprise the Balance Sheet as at31st March 2016 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Standalone FinancialStatements

The Company's Board of Directors is responsible for the mattersstated in Section 134(5) of the Companies Act. 2013 ("the Act") with respect tothe preparation of these standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act. read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records In accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other Irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalonefinancial statements based on our audit We have taken Into account the provisions of theAct the accounting and auditing standards and matters which are required to be includedin the audit report under the provisions of the Act and the Rules made thereunder

We conducted our audit In accordance with the Standards onAuditing specified under Section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidenceabout the amounts and the disclosures in the financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error in making thoserisk assessments the auditor considers internal financial control relevant to theCompany's preparation of the financial statements that give a true and fair view in orderto design audit procedures that are appropriate in the circumstances but not for thepurpose of

expressing an opinion on whether the Company has in place anadequate internal financial controls system over financial reporting and the operatingeffectiveness of Such controls. An audit also includes evaluating the appropriateness ofthe accounting policies used and the reasonableness of the accounting estimates made bythe Company's Directors as well as evaluating the overall presentation of the financialstatements.

We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the standalone financialstatements.

Opinion

In our opinion and to the best of our information and accordingto the explanations given to us the aforesaid standalone financial statements give theinformation required by the Act In the manner so required and give a true and fair view Inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31.st March 2016 and its proflt/loss and its cash flows forthe year ended on that date.

Our opinion is not modified in respect of these matters.

Report on Other Legal and Regulatory Requirements

As required by Section 143 {3) of the Act we report that:

(a) We have sought and obtained all the information andexplanations which to the best of our knowledge and belief were necessary for the purposesof our audit.

(b) In our opinion proper books of account as required by lawhave been kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and theCash Flow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statementscomply with the Accounting Standards specified under Section 133 of the Act read withRule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of the written representations received from thedirectors as on 31.. March 2016 taken on record by the Board of Directors none of thedirectors Is disqualified as on 31.. March 2016 from being appointed as a director interfhs of Section 164 (2) of the Act.

(f) With respect to the other matters to be Included In theAuditor's Report In accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014 In our opinion and to the best of our Information and according to the explanationsgiven to us:

i. The Company does not have any pending litigations whichwould impact its financial position.

II The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses

III. There were no amounts which were required to betransferred to the Investor Education and Protection Fund by the Company

For NIRAL PARIKH & ASSOCIATES Chartered Accountants (FRN134321W)

(Niral Parikh)

Proprietor

(Membership No. 144951)

Ahmedabod

Date: 30/05/2016