The Members of Shreejal Info Hubs Limited
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Shreejal Info HubsLimited (the Company) which comprise the balance sheet as at 31 March 2015the statement of profit and loss and the cash flow statement for the year then ended anda summary of significant accounting policies and other explanatory information.
Managements Responsibility for the Standalone Financial Statements
The Companys 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 standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.
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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions 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 theauditors 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 Companyspreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Companys Directors aswell as evaluating the overall presentation of the financial statements.
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.
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 31 March 2015 and its profit and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order 2015 ("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 statement on the matters specified inthe paragraph 3 and 4 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 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 31March 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2015 from being appointed as a director in terms of Section164 (2) of the Act; and
(f) with respect to the other matters to be included in the Auditors 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 Companydoes not have any pending litigations on its financial position in itsfinancial statements.
(ii) the Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts and
(iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.
For S. D. Malde & Co.
Sd/- (Samir D. Malde Proprietor)
M. No: 108531
Date : 27th May 2015
Annexure to the Independent Auditors Report
The Annexure referred to in our Independent Auditors Report to the members of theCompany on the standalone financial statements for the year ended 31 March 2015 we reportthat:
1. (i) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.
(ii) Fixed assets have been physically verified by the management during the year andno material discrepancies were noted on such verification.
2. There does not have any inventory has this clause is not applicable to the company.
3. According to the information and explanation given to us the company has notgranted any loans secured or unsecured to companies firms or other parties covered inthe register maintained under section 189 of the Companies Act hence provision of thisclause is not applicable.
4. According to the information and explanation given to us there is an adequateinternal control system commensurate with the size of the company and the nature of itsbusiness.
5. The company has not accepted deposits hence provision of this clause is notapplicable.
6. According to the information and explanation given to us maintenance of cost recordshas not been specified by the Central Government under sub- section (1) of section 148 ofthe Companies Act.
7. (a) As per the records of the company the company in general is regular indepositing undisputed statutory dues including provident fund employees stateinsurance income-tax sales-tax wealth tax service tax duty of customs duty ofexcise value added tax cess and any other statutory dues with the appropriateauthorities.
(b) There is no amount in respect of income tax or sales tax or wealth tax or servicetax or duty of customs or duty of excise or value added tax or cess as at 31stMarch 2015 due to any dispute.
(c) As per the records of the company no amount was required to be transferred toinvestor education and protection fund in accordance with the relevant provisions of theCompanies Act 1956 (1 of 1956) and rules made there under.
8. The accumulated losses of the company at the end of the financial year are not morethan fifty percent of its net worth. The company has not incurred cash losses during thefinancial year covered by our audit and in the immediately preceding financial year.
9. The company has not defaulted in repayment of dues to a financial institution orbank or debenture holders.
10. The company has not given any guarantee for loans taken by others from bank orfinancial institutions.
11. The company has not taken any term loans this clause is not applicable.
12. Based on the audit procedures performed and information and explanation given bythe management we report that no fraud on or by the company has been noticed or reportedduring the year.
For S. D. Malde & Co.
FRN No. 120605W
(Samir D. Malde Proprietor)
M. No: 108531
Date : 27th May 2015