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Shree Bhavya Fabrics Ltd.

BSE: 521131 Sector: Industrials
NSE: N.A. ISIN Code: INE363D01018
BSE LIVE 15:15 | 15 Dec 6.42 -0.33
(-4.89%)
OPEN

7.00

HIGH

7.00

LOW

6.42

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 7.00
PREVIOUS CLOSE 6.75
VOLUME 1510
52-Week high 9.18
52-Week low 4.38
P/E 9.04
Mkt Cap.(Rs cr) 6
Buy Price 6.75
Buy Qty 1495.00
Sell Price 7.00
Sell Qty 10.00
OPEN 7.00
CLOSE 6.75
VOLUME 1510
52-Week high 9.18
52-Week low 4.38
P/E 9.04
Mkt Cap.(Rs cr) 6
Buy Price 6.75
Buy Qty 1495.00
Sell Price 7.00
Sell Qty 10.00

Shree Bhavya Fabrics Ltd. (SHREEBHAVYA) - Auditors Report

Company auditors report

To the Members of

M/S. SHREE BHAVYA FABRICS LIMIITED

(FORMERLY KNOWN AS ANJANI DHAM INDUSTRIES LIMITED)

Report on the Financial Statements

We have audited the accompanying financial statements of M/S. SHREE BHAVYA FABRICSLIMITED (FORMERLY KNOWN AS ANJANI DRAM INDUSTRMS LIMITED) ("the Company")which comprise the Balance Sheet as at March 31 2015 the Statement of Profit and Lossand Cash Flow Statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management's Responsibility for the Sandalone 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 preparationand presentation of these financial statements that give a true and fair view of theAnancial position financial performance and cash flows of the Company in accordance withthe accounting 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 responsibi}ity also includes maintenance of adequate accounting recordsin accordance wifn the provisions of Act for safeguarding the assets of the Company andfor preventing and detecting frauds another irregularities selection and application ofappropriate accounting policies; making judgements and estimates that are responsble andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the fmancial statements are free from materialmisstatement.

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 makihg those risk assessments theauditor considers intemal 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 intemal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a for our andit opinion on the financial statement.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid fmancial statements give the information required by the Act inthe 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 31March 2015 and its profit and its cash flows for the year ended on that date. Report onOther Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 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 purpose of our audit.

b) In our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books;

c) The balance shect 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 written representations received from the directors as on March 312015 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2015 from being appointed as a director in terms of Section 164 (2) of theAct; and

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 for which provision have not beenmade which would impact its f'mancial position.

ii) The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any.

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

As per our Report of Even Date

For and on Behalf of

For Nahta Jain & Associates

Chartered Accountants

Firm Regn. No. 106801W

(CA. I. C. Nahta)

Partner

M. No. 070023

Place : Ahmedabad

Date : 15/06/2015

Annexure to the Independent Auditor's Report

The Annexure referred to in our Independent Auditor's Report to the members of theCompany on the financial statements for the year ended 31 March 2015 we report that;

(i) In respect of Fixed Assets:

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

(b) As per the information and explanations given to us all the assets have not beenphysically verified by the management during the year but there is a regular programme ofverification which in our opinion is reasonable having regard to the size of the companyand the nature of its assets. No material discrepancies were noticed on such verification.

(ii) In respect of Inventory:

(a) As explained to us inventories have been physically verified during the year bythe management at reasonable intervals. In our opinion the frequency of verification isreasonable.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and nature.of its business.

(c) The company is maintaining proper records of inventory. As informed to us therewere no material discrepancies noticed on verification between the physical stocks and thebook records and any discrepancies found has been properly dealt within the books ofaccounts.

(iii) The company has granted loan unsecured loan to one company covered in theregister maintained u/s. 189 of the Companies Act :

(a) Receipt of the principal amount and interest are also regular.

(b) In respect of the said loans and interst thereon ther are no overdue amounts.

iv) In our opinion and according to the information and explanations given to us thereare an adequate intemal control system commensurate with the size of the Company and thenature of its business with regard to purchase of inventory fixed assets and sale ofservices. We have not observed any major weakness in the internal control system duringthe course of our audit.

v) According to the information and explanation given to us the company has notaccepted any deposit from the public during the year. Therefore the provisions of clause(v) of paragraph 3 of the order are not applicable to the company.

vi) The central government has prescribed maintenance of cost records under section209(1)(d) of the companies act 1956 in respect of certain manufacturing activities of thecompany. Company has obtained cost audit report for the financial year 2013-14 during theyear. We have broadly reviewed the accounts and records of the company in this connectionand are of the opinion that prima facie the prescribed accounts and records have beenmade and maintained. We have not however carried out detailed examination of the same.

(a) The company is generally regular in depositing the undisputed statutory duesincluding Provident Fund Employees State Insurance Income Tax Wealth Tax Sales TaxCustom Duty Excise Duty Service Tax Value Added Tax Cess and any other statutory dueswith the appropriate authorities. According to the information and explanations given tous no undisputed amounts payable in respect of afore mentioned dues were outstanding asat 31st March 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us details of statutorydues that have not been deposited on account of dispute and the matters pending beforeappellate authority are as under:

Name of The Statute Nature of Dues Amount Forum Where Dispute is Pending Remark
1. ITAT A. Y. 2009-10 Rs. 366745/- ITAT Ahmedabad
2. CIT (A) A. Y. 2012-13 Rs. 187.140/- CIT(A) Ahmedabad

(viii) The Company does not have any accumulated losses at the end of the fmancial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year.

(ix) In our opinion and according to the information and explanations given to us. thecompany has not defaulted in repayment of dues to financial institutions or banks. Asthere are no debentures the question of repayment does not arise.

(x) In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.

(xi) In our opinion and according to the information and explanations given to us. theTerm loans have been applied for the purpose for which they were obtained.

(xii) According to the information and explanation given to us no material fraud on orby the Company has been noticed or reported during the course of our audit.

As per our Report of Even Date

For and on Behalf of

For Nahta Jain & Associates

Chartered Accountants

Firm Regn. No. 106801W

(CA. I. C. Nahta)

Partner

M. No. 070023

Place : Ahmedabad

Date : 15/06/2015