The Members of
Talbros Engineering Limited
Report on the Financial Statements
We have audited the accompanying financial statements of TALBROS ENGINEERING LIMITED(the Company) which comprise the Balance Sheet as at 31 March 2017 the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and a summary ofsignificant Accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the preparation of these financialstatements stated in Section 134(5) of the Companies Act 2013(the Act") withrespect to the preparation of these 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 referred to in 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 Act for safeguarding the assets ofthe Company and for preventing and detecting frauds and other irregularities selectionand application of appropriate accounting policies making judgements and estimates thatare reasonable and prudent and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of accounting records relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.
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 matter which are required to be included in the audit report under theprovisions of the act and the rules made there under. 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 financial statements are free from materialmisstatement.
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 the material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal control relevant to the Company's preparation of the financialstatements that give a true and fair view in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion onwhether the Company has in place adequate internal financial control system over financialreporting and the operating effectiveness of such controls. An audit also includesevaluating the appropriateness of accounting policies used and reasonableness of theaccounting estimates made by management as well as evaluating the overall presentation ofthe financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the 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 stateof affairs of the Company as at March 31 2017; b) In the case of the Statement of Profitand Loss of the profit for the year ended on that date; and c) In the case of the CashFlow Statement of the cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1) As required by the Companies (Auditor's Report) Order 2016 ("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' a statement on the matters specified inparagraphs 3 of the Order to the extent applicable.
2) As required by section 143(3) of the Act we report that: a) we have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit; b) in our opinion proper books ofaccount as required by law have been kept by the Company so far as appears from ourexamination of those books; c) the Balance Sheet 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 financial statements comply with the AccountingStandards specified in section 133 of the Act read with rule 7 of Companies (Accounts)Rules 2014;
e) on the basis of written representations received from the directors as on March312017 and taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2017 from being appointed as a director in terms Section164(2) of the Act.
f) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure B".
g) The company has provided requisite disclosures in its financial statements as toholdings as well as dealings in specified bank notes during the period from 8th November2016 to 30th December 2016 and the same are in accordance with the books of accountsmaintained by the Company.
h) 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 explanation given to us:
i) The company has disclosed the impact of pending litigations on its financialposition in its financial statements.
ii) The Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.
iii) The company is not required to transfer any amount to the Investor Education andProtection Fund.
| || ||For RAKESH RAJ & ASSOCIATES |
| || ||Chartered Accountants |
| || ||Firm Regn No.005145N |
| || ||Sd/- |
| || ||Ruchi Jain |
|Place:Faridabad ||Partner |
|Date ||: 29.05.2017 ||Membership No. 099920 |