TO THE MEMBERS OF DHANUKA REALTY LIMITED
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of DHANUKA REALTYLIMITED (hereinafter referred to as "the Holding Company") and its subsidiaries(the Holding Company and its subsidiaries together referred to as "theGroup")comprising of the Consolidated Balance Sheet as at 31st March 2017 theConsolidated Statement of Profit and Loss the Consolidated Cash Flow Statement for theyear then ended and a summary of the significant accounting policies and otherexplanatory information (hereinafter referred to as "the consolidated financialstatements").
Management's Responsibility for the Consolidated Financial Statements
The Holding Company's Board of Directors is responsible for the preparation of theseconsolidated financial statements in terms of the requirements of the Companies Act 2013(hereinafter referred to as "the Act") that give a true and fair view of theconsolidated financial position consolidated financial performance and consolidated cashflows of the Group including its Associates and Jointly controlled entities in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. The respective Board of Directors of the companies included in theGroup are responsible for maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Group and for preventing anddetecting frauds and other irregularities; the selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; andthe design implementation and maintenance of adequate internal financial controls 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 which have been used for the purpose of preparation of the consolidated financialstatements by the Directors of the Holding Company as aforesaid.
Our responsibility is to express an opinion on these consolidated financial statementsbased on our audit.
While conducting the audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made there under.
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 consolidated financial statements are free 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 onour judgment including the assessment of the risks of material misstatement of theconsolidated financial statements whether due to fraud or error. In making those riskassessments we considers internal financial control relevant to the Company's preparationof the consolidated financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company's Directors as well as evaluating the overallpresentation of the consolidated 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 consolidated financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India;
a) in the case of the consolidated Balance Sheet of the statement of affairs of theCompany as at March 312017;
b) in the case of the consolidated Statement of Profit and Loss of the LOSS for theyear ended on that date; and
c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.
We did not audit the financial statements / financial information of Triveni KripaBuildhome Private Limited subsidiary whose financial statements / financial informationreflect total assets of Rs.424413795 as at 31st March 2017 total revenues ofRs.36226482 and net cash flows amounting to Rs.130137 for the year ended on thatdate as considered in the consolidated financial statements. This financial statements /financial information have been audited by other auditors whose reports have beenfurnished to us by the Management and our opinion on the consolidated financialstatements in so far as it relates to the amounts and disclosures included in respect ofthese subsidiary and our report in terms of sub-sections (3) and (11) of Section 143 ofthe Act insofar as it relates to the aforesaid subsidiary is based solely on the reportsof the other auditors.
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 appears from our examination of those books (and proper returns adequatefor the purposes of our audit have been received from the branches which are visited byus)
c) The reports on the accounts of the branch offices of the Company audited underSection 143(8) of the Act by us and have been properly dealt by us while preparing thisreport.
d) the consolidated Balance Sheet consolidated Statement of Profit and Loss and CashFlow Statement dealt with by this Report are in agreement with the books of account.
e) 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) Rules 2014.
f) There is nothing to disclose which is having adverse effect on the functioning ofthe company.
g) On the basis of written representations received from the directors as on 31 March2017 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2017 from being appointed as a director in terms of Section 164(2) of theAct.
h) There is no qualification relating to the maintenance of accounts and other mattersconnected therewith
i) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditor's) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:
i. The consolidated financial statements disclose the impact of pending litigations onthe consolidated financial position of the Group its associates and jointly controlledentities
ii. The Company has made provision in the consolidated financial statements asrequired under the applicable law or accounting standards for material foreseeablelosses if any on long term contracts including derivative contracts
iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company [or following are the instancesof delay in transferring amounts required to be transferred to the Investor Educationand Protection Fund by the Company or there were no amounts which required to betransferred ]
Report on other Legal and Regulatory Requirements
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 based on the comments in the auditors' reports of the Holding company subsidiarycompanies associate companies and jointly controlled companies incorporated in India wegive in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder to the extent applicable.
As required by section 143(3) of the Act we report that:
| ||for MANISH BORAD AND CO. |
| ||Chartered Accountants |
| ||Sd/- |
| ||CA. RAMESH KUMAR SHARMA |
|Place : JAIPUR Date 22/05/2017 ||208 SARAOGI MANSION M.l. |
|ROAD JAIPUR 302001 |