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Sheraton Properties & Finance Ltd.

BSE: 512367 Sector: Financials
NSE: N.A. ISIN Code: INE495M01019
BSE LIVE 15:08 | 30 May Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 10.98
PREVIOUS CLOSE 10.46
VOLUME 100
52-Week high 10.98
52-Week low 0.00
P/E 17.16
Mkt Cap.(Rs cr) 1
Buy Price 10.98
Buy Qty 2000.00
Sell Price 0.00
Sell Qty 0.00
OPEN 10.98
CLOSE 10.46
VOLUME 100
52-Week high 10.98
52-Week low 0.00
P/E 17.16
Mkt Cap.(Rs cr) 1
Buy Price 10.98
Buy Qty 2000.00
Sell Price 0.00
Sell Qty 0.00

Sheraton Properties & Finance Ltd. (SHERATONPROPER) - Auditors Report

Company auditors report

To

The Members of

Sheraton Properties and Finance Limited Report on the Standalone Financial Statements

1. We have audited the accompanying financial statements of Sheraton Properties andFinance Limited ("the Company") which comprise the Balance Sheet as at 31stMarch 2016. the Statement of Profit and Loss the Cash Mow Statement for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Standalone 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 standalone financial statements that give a true and fair view of thefinancial position and financial performance 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 m accordance withthe provisions of the Act for safeguarding the assets of the com pan \ and for preventing& detecting fraud & 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 control 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.

Auditor's Responsibility

3. 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 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.

4. An audit involves performing procedures to obtain audit evidence about the amountsand 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 but not for the purpose of expressing anopinion on whether the company has in place an adequate internal financial controls systemover financial reporting and the operative effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's directors as well as evaluating the overallpresentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient 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 accompanying standalone financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 3T! March 2016 and its profit for the year ended on that date.

Report on Other Legal & regulatory Requirements

6. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act we give in theAnnexure I a statement on the matters specified in paragraphs 3 and 4 of the order.

7. 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 and 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 lilt- basis of written representations received from the Directors as on ;'CMatch. 2010. taken on record b\ the Hoard of Directors none of the directors isdisqualified as on 3P1 March. 2016 from being appointed as a Director in termsof Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial control over financialreporting of the company and the operative effectiveness of such controls refer to ourseparate report in

I Annexing IP.

g) With respect to the other matters included in the Auditor's Report in accordancewith Rule

II of the Companies (Audit and Auditors) Rules 2014. in our opinion and to our best ofour information and according to the explanations given to us :

i. The Company has disclosed the impact of pending litigations by its financialposition in its financial-statements.

ii. The Company does not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred to theInvestor education and Protection fund by the Company.

For and on behalf of
B. L. Dasharda & Associates
Chartered Aecountants
F.R. No.: 112615W
Sushant Mehta
Partner
Place : Mumbai lVI.No. : 112489
Dated: 16th May 2016