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Sunrise Asian Ltd.

BSE: 506615 Sector: Others
NSE: N.A. ISIN Code: INE917D01011
BSE LIVE 14:59 | 19 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.21
PREVIOUS CLOSE 2.25
VOLUME 9
52-Week high 2.78
52-Week low 2.21
P/E
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.21
Sell Qty 6119.00
OPEN 2.21
CLOSE 2.25
VOLUME 9
52-Week high 2.78
52-Week low 2.21
P/E
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 2.21
Sell Qty 6119.00

Sunrise Asian Ltd. (SUNRISEASIAN) - Auditors Report

Company auditors report

To

The Members of

Sunrise Asian Limited.

Report on the Financial Statements

We have audited the accompanying financial statements of Sunrise Asian Limited whichcomprise the Balance Sheet as at March 31 2014 and the Statement of Profit and Loss andCash Flows for the year then ended and a summary of significant accounting policies andother explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors are responsible for the matters stated in Section134(5) of Companies Act 2013 ("the Act") with respect to the preparation andpresentation 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 includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; design implementation and maintenance of adequate internal financial controlsthat are operating effectively for ensuring the accuracy and completeness of theaccounting 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.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

We conducted our audit in accordance with the Standards on Auditing specified underSection 43(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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements inorder to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by management aswell as evaluating the overall presentation of the financial statements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion.

Qualified Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us except for the effects of the matters described in the basis of QualifiedOpinion paragraph the financial 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:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

b) in the case of the Statement of Profit and Loss of the loss for the period ended onthat date; and

c) in the case of Cash Flow Statement of the cash flows for the period ended on thatdate.

Report on Other 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 subsection (11) of 143 of the Actwe give in the Annexure a statement on the matters specified in the paragraph 3 and 4 ofthe order to the extent applicable.

2. As required by section 143(3) of the Act we report that:

a) We have obtained all the information and explanations which to the best of ourknowledge 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 Sheet Statement of Profit and Loss dealt with by this Report are inagreement with the books of account;

d) In our opinion the Balance Sheet the Statement of Profit & Loss and theCashFlow Statement comply with the Accounting Standards referred to in Section 211(3C) ofthe Act read with the General Circular 15/2013 dated September 13 2013 issued by theMinistry of Corporate Affairs; and

e) On the basis of written representations received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31

2015 from being appointed as a director in terms of section 164 of the Companies Act2013.

For Vikash Jindal & Associates
Firm Regn. No. : 129922W
Chartered Accountants
(Vikash Jindal)
Proprietor
Membership No. : 408934
Place: Mumbai
Date: 30-05-2015

TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in Paragraph (1) of our Report of even date)

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

(b) As explained to us all the fixed assets have been physically verified by themanagement during the period and no material discrepancies were noticed on such physicalverification.

(c) During the year the Company has not disposed off any fixed assets.

(a) (a) As explained to us inventories have been physically verified during the yearby the management at reasonable intervals.

(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 the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification of stocks by the management as compared to book records.

(iii) (a) According to the information and explanations given to us and on the basis ofour examination of the books of account the Company has not granted loan to any partylisted in the register maintained under Section 189 of the Companies Act 2013. Thus subclause (b) (c) and (d) of the order are not applicable to the Company.

(e) According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not taken loans from any party listedin the register maintained under Section 189 of the Companies Act 2013. Thus sub Clause(f) and (g) of the order are not applicable to the company.

(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the Companyand nature of its business with regard to purchases of fixed assets and for the sale ofservices. In our opinion and according to the information and explanations given to usthere is no continuing failure to correct major weaknesses in internal control.

(v) (a) In our opinion and according to the information and explanations given to usthe particulars of contracts and arrangements referred to in section 189 of the CompaniesAct 2013 have been entered in the register required to be maintained under that section.

(vi) During the year the Company has not accepted any deposits. As such thecompliance with directives issued by the Reserve Bank of India and the provisions ofsection 73 and 78 the Act and the rules framed there under are not applicable.

(vii) As per information and explanations given by the management the Company has aninternal audit system commensurate with its size and the nature of its business.

(viii) As per information and explanation given by the management maintenance of costrecords has not been prescribed by the Central Government under sub-section (1) of section148 of the Companies the Act 2013.

(ix) (a) According to the records of the company undisputed statutory dues includingProvident Fund Investor Education and Protection Fund Employees' State InsuranceIncome- tax Sales-tax Wealth Tax Service Tax Custom Duty Excise Duty cess to theextent applicable and any other statutory dues have generally been regularly depositedwith the appropriate authorities. According to the information and explanations given tous there were no outstanding statutory dues as on 31st of March 2015 for aperiod of more than six months from the date they became payable.

(b) According to the information and explanations given to us there is no amountspayable in respect of income tax wealth tax service tax sales tax customs duty andexcise duty which have not been deposited on account of any disputes.

(x) The Company does not have any accumulated losses at the end of the financial year.The Company has not incurred cash losses during the financial year covered by our auditthough it has incurred cash losses in the immediately preceding financial year.

(xi) Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders.

(xii) According to the information and explanations given to us the Company has notgranted loans and advances on the basis of security by way of pledge of shares debenturesand other securities.

(xiii) In our opinion the Company is not a chit fund nidhi or mutual benefitfund/society. Therefore the provisions of clause 4(xiii) of the Companies (Auditor'sReport) Order 2003 are not applicable to the Company.

(xiv) The Company has kept adequate records of transactions and contracts in respect ofdealing or trading in shares securities debentures and other investment made by companyand timely entries have been made therein. The Company's investments are held in its ownname.

(xv) According to the information and explanations given to us the Company has notgiven any corporate guarantee for loan taken by others from bank or financial institution.

(xvi) Based on the information and explanations given to us and on an overallexamination of the Balance Sheet of the Company as at 31st March 2015 we report that thecompany has not raised any term loan during the year.

(xvii) Based on the information and explanations given to us and on an overallexamination of the Balance Sheet of the Company as at 31st March 2015 we report that nofunds raised on short-term basis have been used for long-term investment by the Company.

(xviii) Based on the audit procedures performed and the information and explanationsgiven to us by the management we report that the Company has not made any preferentialallotment of shares during the year to the parties covered under section 189 of the Act.

(xix) The Company did not have any outstanding debentures during the year.

(xx) The Company has not raised any money by way of public issues during the year.

(xxi) Based on the audit procedures performed and the information and explanationsgiven to us we report that no fraud on or by the Company has been noticed or reportedduring the year nor have we been informed of such case by the management.

For Vikash Jindal & Associates
Firm Regn. No. : 129922W
Chartered Accountants
(Vikash Jintal)
Proprietor
Membership No. : 408934
Place: Mumbai
Date: 30-05-2015