You are here » Home » Companies » Company Overview » Unno Industries Ltd

Unno Industries Ltd.

BSE: 519273 Sector: Financials
NSE: N.A. ISIN Code: INE142N01023
BSE LIVE 15:11 | 29 Mar Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.49
PREVIOUS CLOSE 0.49
VOLUME 1167463
52-Week high 0.49
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.49
Sell Qty 1503569.00
OPEN 0.49
CLOSE 0.49
VOLUME 1167463
52-Week high 0.49
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 21
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.49
Sell Qty 1503569.00

Unno Industries Ltd. (UNNOINDUSTRIES) - Auditors Report

Company auditors report

TO THE BOARD OF DIRECTORS OF

UNNO INDUSTRIES LIMITED

Report on Standalone Financial Statement

We have audited the accompanying standalone financial statements of UNNO INDUSTRIESLIMITED ("the Company") which comprise the Balance Sheet as at March 312015 and the Statement of Profit and Loss and Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone 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 preparation ofthese standalone 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 also includes maintenance of adequate accounting recordsin accordance with the preparation of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor’s Responsibility

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 theaccounting and auditing standards and matters which are required to be included inthe audit report under the provisions of the Act and the Rules made thereunder.Weconducted our audit in accordance with the Standards on Auditing specified under Section143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement. Anaudit involves performing procedures to obtain audit evidence about the amounts and thedisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of materialmisstatement of the financial statements whether due to fraud or error. In makingthose risk assessments the auditor considers internal financial control relevantto the Company’s preparation of the financial statements that give a true and fairview in order to design audit procedures that are appropriate in the circumstancesbut not for the purpose of expressing an opinion on whether the Company has inplace an adequate internal financial control system over financial reporting andthe operating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company’s Directors as well as evaluating the overallpresentation of the financial statements. We believe that the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our audit opinion onthe standalone financial statements. Our responsibility is to express an opinion on thesefinancial statements based on our audit. We conducted our audit in accordance with theStandards on Auditing issued by the Institute of Chartered Accountants of India. ThoseStandards require that we comply with ethical requirements and plan and perform the auditto obtain reasonable assurance about whether the consolidated financial statements arefree from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the consolidated financial statements. The procedures selected depend onthe auditor’s judgment including the assessment of the risks of materialmisstatement of the consolidated financial statements whether due to fraud or error. Inmaking those risk assessments the auditor considers internal control relevant to theCompany’s preparation and fair presentation of the standalone financial statements inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by management as well as evaluating the overallpresentation of the Standalone financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

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 31st March 2015 and its profit/loss and its cash flow for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the

Central Government of India in terms of sub-section (11) of section 143 of theCompanies Act 2015 we give in the Annexure a statement on the matters specified inparagraphs 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 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in termsof Section 164 (2) of the Act.

(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; ii. The Company has not enteredinto any long-term contracts including derivative contracts. iii. There has been no delayin transferring amounts required to be transferred to the Investor Education andProtection Fund by the Company.

For Sanjay N. Shah & Co.
Chartered Accountants
FRN: 124897W
Sd/-
Date: 30th May 2015 CA. Sanjay Shah Proprietor
Place: Mumbai Membership No.116251

The Annexure referred to in our Report of even date to the members of Unno IndustriesLimited on the accounts of the company for the year ended 31st March 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

1.

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

(b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

(c) In our opinion and according to the information and explanations given to us nofixed asset has been disposed during the year and therefore does not affect the goingconcern assumption.

2 . (a) As explained to us the Inventories has been physically verifiedduring the year by the management. In our opinion the frequency of verification isreasonable.

(b) In our opinion and according to the information and explanation 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 according to the information and explanation given to us theCompany has maintained proper records of its Inventories. The discrepancies noticed onverification between the physical stocks and the book records were not material.

3. a).The companies has granted loans to companies in the register maintained undersection 189 of companies Act 2013 ("the act").

b). In case of the loans granted to the bodies corporate listed in the registermaintained under section 189 of the companies act 2013 the borrowers have been regular inthe payment of the interest as stipulated. The terms of arrangements do not stipulate anyrepayment schedule and loans are repayable on demand

c). There is no overdue amount is more than one lakh whether reasonable steps havebeen taken by company for recovery of the principal and interest.

4. In our opinion and according to the information and explanations given to usthere is generally an adequate internal control procedure commensurate with the size ofthe company and the nature of its business for the purchase of inventories & fixedassets and payment for expenses & for sale of goods and sale of services. During thecourse of our audit no major instance of continuing failure to correct any weaknessesin the internal controls has been noticed.

5. The company has not accepted any deposit from public.

6. The Central Govt of India has not prescribed the maintenance of cost recordunder section 148(1) of the Act for any of the Services rendered by the company.

7. In respect of statutory dues

(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.

(c) There has been no delay in transferring amounts required to be transferred to theInvestor Education and Protection Fund by the Company.

8. The Company has accumulated losses at the end of the financial year and it hasnot incurred cash losses in the financial year and in the immediately preceding financialyear.

9. The company did not have any outstanding dues to any financial institutionbanks or debenture holder during the year.

10. In our opinion and according to the information and explanations given to usthe company has not given any guarantee for loans taken by others and banks or financialinstitutions.

11 . The company did not have any term loans outstanding during the year.

12. According to the information and explanations given to us no material fraudon or by the company has been noticed or reported during the course of audit.

For Sanjay N. Shah & Co.
Chartered Accountants
FRN: 124897W
Sd/-
Date: 30st May 2015 CA. Sanjay Shah Proprietor
Place: Mumbai Membership No.116251