The Members of C.J.Gelatine Products Limited Mumbai.
1. We have audited the accompanying financial statements of M/s. C. J. GelatineProducts Limited which comprise the Balance Sheet as at 31st March 2017 the Statementof Profit & Loss and Cash Flow Statement for the year ended on that date and asummary of significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements:
The Company's Board Of Directors is responsible for the matters stated in Section134(5) of the Companies Act2013 ( "the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules2014. Theresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; andthe design implementation and maintenance of adequate internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords: relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.
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 there under. We conducted our audit in accordancewith the Standards on Auditing issued by the Institute of Chartered Accountants of Indiaas specified under Section 143(10) of the Act. 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.
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 risk of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal 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 an opinionon whether the Company has in place an adequate internal financial controls system overfinancial reporting and the effectiveness of such controls. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by the Company's Directors as well as evaluating the overallpresentation of the financial statements. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our audit opinion on thefinancial statements.
In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner 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 March31 2017 its losses and its cash flows (cash losses) for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies ( Auditor's report) Order2015 ( "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 1 a statement on the matters specified in paragraphs 3and 4 of the Order.
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 it appears from our examination of those books;
c. The Balance Sheet Statement of Profit & Loss and Cash Flow Statement dealt withby 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)Rules2014;
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 312017 from being appointed as a Director in terms of section164(2) of the Act;
f. With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies( Audit and Auditors) Rules2014 in our opinion and to thebest of our information and according to the explanations given to us:
(a) the Company has disclosed the impact of pending/settled litigations on itsfinancial position in its financial statements - Refer Note 22 to the financialstatements.
(b) the Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses;
(c) there has been no delay in transferring amounts if any to the Investor Educationand Protection Fund by the Company.
(d) the Company has provided requisite disclosures in its Notes to financial statementsas to holdings as well as dealings in Specified Bank Notes (SBN) during the period from8th November2016 to 30th December2016 and these are in accordance with books of accountsmaintained by the Company. For details refer Note no.22.08 to the Notes on Accounts.
| ||For R. Kini & Associates |
| ||Chartered Accountants |
| ||Firm Regn. No.116134W |
| ||R. Kini |
|Place: Mandideep ||Proprietor |
|Date : 27th May 2017 ||M. No. 021611 |