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Divya Jyoti Industries Ltd.

BSE: 526285 Sector: Industrials
NSE: N.A. ISIN Code: INE666B01018
BSE 00:00 | 20 Jun 4.99 0
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NSE 05:30 | 01 Jan Divya Jyoti Industries Ltd
OPEN 4.99
PREVIOUS CLOSE 4.99
VOLUME 200
52-Week high 9.92
52-Week low 4.99
P/E 8.05
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.99
CLOSE 4.99
VOLUME 200
52-Week high 9.92
52-Week low 4.99
P/E 8.05
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Divya Jyoti Industries Ltd. (DIVYAJYOTIINDS) - Auditors Report

Company auditors report

To

The Members of Divya Jyoti Industries Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Divya Jyoti Industries Limited("the Company") which comprise the Balance Sheet as at March 31 2017 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended 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 section135(5) of Companies Act 2013('The Act') with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the Accounting principlesgenerally accepted in India Including the Accounting Standards referred under section133 of the Act read with rule 7 of the Companies Act 2013 ("the Act"). Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provisions of the Act of safeguarding the assets of the company and forpreventing and detecting frauds and other irregularities selection and application ofappropriate accounting policy making judgments and estimates that re reasonable andprudent; and design implementation and maintenance of internal control relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

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 inaccordance with the Standards on Auditing issued by the Institute of Chartered Accountantsof India. Those Standards require that we comply with ethical requirements and plan andperform the audit to obtain reasonable assurance about whether the financial statementsare 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 in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness ofthe Company's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by thecompany's directors as well as evaluating the overall presentation of the financialstatements.

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 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 of the Company for the year ended on that date; and c) In the caseof the Cash Flow Statement of the cash flows of the Company for the year ended on thatdate.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report ) Order 2016 ('the Order') issued bythe Central Government of India in terms of sub- section 11 of Section 143 of the Act wegive in the Annexure A a statement in the paragraph 3 and 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 accounts 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 financial statements comply with the accountingstandards specifies under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules2014.

e. On the basis of the written representation received from the directors as on 31March 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164(2) of the Act; f. With respect to the adequacy of the internal financial controls overfinancial reporting of the company and the operating effectiveness of such controls referto our separate report in 'Annexure B' and g. With respect to the other matters to beinclude in the Auditor's report in accordance with Rule 11 of the Companies(Audit andAuditors) Rules 2014in our opinion and to the best of our information and explanationsgiven to us: (i) the Company has disclosed the impact of pending litigations on thefinancial position in its financial statements. (ii) the Company has made provision 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.

(iv) The company has provided the requisite disclosure in its financial statements asto holdings as well as dealings

Specified Bank Notes during the period from 8 November 2016 to 30the December 2016and these are in accordance with the books of accounts maintained by the company.

AUDITOR'S CERTIFICATE ON CORPORATE GOVERNANCE

To

The Members of Divya Jyoti Industries Limited

We have examined the compliance of conditions of Corporate Governance by Divya JyotiIndustries Limited for the year ended 31 March2017 as stipulated in as per [SEBI(LODR)Regulation 2015] of the said Company with the Stock Exchanges.

The compliance of conditions of Corporate Governance is the responsibility of themanagement. Our examination has been limited to a review of the procedures andimplementation thereof adopted by the Company for ensuring compliance with the conditionsof the Corporate Governance as stipulated in the said Clause. It is neither an audit noran expression of opinion on the financial statements of the Company.

In our opinion and to the best of our information and according to the explanationsgiven to us we certify that the company has complied with the mandatory requirements ofCorporate Governance as stipulated in the above-mentioned Listing Agreement.

We further state that such compliances are neither an assurance as to the futureviability of the Company nor of the efficiency or effectiveness with which the managementhas conducted the affairs of the Company.

ANNEXURE "A' TO INDEPENDENT AUDITOR'S REPORT

The annexure referred to in Independent Auditor's Report to the members of the companyon the financial statements for the year ended on 31 March 2017 we report that:

i. (a) The company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) As explained to us and on the basis of our examination the company has regularprogramme for verification of its fixed assets which is reasonable with regard to the sizeof the company and nature of its assets and no material discrepancies were noticed on suchverification.

(c ) According to the information and explanation given to us and on the basis of ourexamination the title deeds of immovable properties are held in the name of the company.

ii. According to the information and explanation given to us the physical verificationof inventory has been conducted at reasonable intervals by the management. The procedureof physical verification of inventory followed by the management is reasonable andadequate In relation to the size of the company and nature of its business. The companyhas maintained proper record of inventories and no material discrepancies were noticed onsuch verification of inventories as compared to the book records.

iii. The company has not granted loans secured or unsecured to companies firmslimited liability partnerships or other parties covered in the register maintained undersection 189 of the Companies Act 2013.

iv. The company has not given any loans investments guarantees and security under theprovisions of section 185 and 186 of the Companies Act 2013.

v. The company has not accepted any deposits from the public. vi. According to theinformation and explanation given to us and verified by us broadly the company hasmaintained the cost records as prescribed by the central government under sub section 1 ofsection 148 of the Companies Act 2013.

vii. (a) According to the information and explanation given to us and on the basis ofour examination of records of the company the company is regular in depositing statutorydues including provident fund employees state insurance Income tax Sales Tax ServiceTax Duty of Customs Duty of Excise Value added tax cess and any other statutory duesto the appropriate authorities. viii. (b) According to the information and explanationgiven to us following dues of Income Tax sales tax service tax duty of customs or dutyof excise or value added tax have not been deposited by the company on account ofdisputes.

Name of the Statute Nature of dues Amount (in Lacs) Period to which the Amount relates Forum where dispute is pending
M.P. Commercial Tax Act 1994 Commercial Tax 6.51 2004-05 Reference Application filed to Appellate Tribunal Bhopal
M.P. Commercial Tax Act 1994 Commercial Tax 2.39 2005-06 Reference Application filed to Appellate Tribunal Bhopal
M.P. Entry Tax Act 1976 Entry Tax .26 2005-06 Reference Application filed in Jabalpur High Court
M.P. Entry Tax Act 1976 Entry Tax .79 2006-07 Writ Petition filed at Indore High Court
M.P. Entry Tax Act 1976 Entry Tax 150.41 2007-08 Writ Petition filed at Indore High Court
M.P. Entry Tax Act 1976 Entry Tax 223.66 2008-09 Writ Petition filed at Indore High Court
M.P. Central Tax Act 1956 Central Sales Tax 57.85 2003-04 Writ Petition filed at Jabalpur High Court
Name of the Statute Nature of dues Amount (in Lacs) Period to which the Amount relates Forum where dispute is pending
M.P. Central Tax Act 1956 Central Sales Tax 181.46 2004-05 Writ Petition filed at Jabalpur High Court
M.P. Value Added Tax 2002 Value Added Tax 52.44 2006-07 Appeal filed at Appellate Authority Commercial Tax Indore
Income Tax Act1961 Income Tax 19.61 2010-11 Appeal filed at Commissioner of Income Tax Indore
M.P. Central Tax Act 1956 Central Sales Tax 39.59 2008-09 Appeal filed at Appellate Authority Commercial Tax Indore
M.P. Central Tax Act 1956 Central Sales Tax 29.17 2010-11 Appeal filed at Appellate Authority Commercial Tax Indore
M.P. Central Tax Act 1956 Central Sales Tax 386.62 2011-12 Appeal filed at Appellate Authority Commercial Tax Indore
M.P. Central Tax Act 1956 Central Sales Tax 99.67 2012-13 Appeal filed at Appellate Authority Commercial Tax Indore
M.P. Central Tax Act 1956 Central Sales Tax 25.48 2014-15 Appeal filed at Appellate Authority Commercial Tax Indore

Note: The amount due has been shown as net of amounts paid.

(viii) The company has not defaulted in repayments of loans or borrowings to financialinstitutions banks government. The company has not taken any loans from debentureholders.

(ix) The company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3(ix) of the order is not applicable.

(x) According to the information and explanations given to us no fraud by the companyor on the company by its officers or employees has been noticed or reported during thecourse of our audit.

(xi) According to the information and explanation given to us and based on ourexamination of the records of the company the company has paid/provided for themanagerial remuneration in accordance with the approvals mandated by the provisions ofsection 197 read with Schedule V of the Companies Act2013.

(xii) In our opinion and according to the information and explanation given to us thecompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the order is notapplicable.

(xiii) According to the information and explanation given to us an based on ourexamination of the records of the company the company has not entered any transactionwith related parties as applicable under section 177 and 188 of the Companies Act 2013.

(xiv) According to the information and explanation given to us and based on ourexamination of the records of the company the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

(xv) According to the information and explanation given to us and based on ourexamination of records of the company the company has not entered into non cashtransaction with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe order is not applicable.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For Dafria & Co.
Firm Registration No. 001448C
Chartered Accountants
Rakesh Dafria
Date: May 27 2017 Partner
Place: Indore Membership No.: 081390