You are here » Home » Companies » Company Overview » Krishana Phoschem Ltd

Krishana Phoschem Ltd.

BSE: 538405 Sector: Agri and agri inputs
NSE: KRISHANA ISIN Code: INE506W01012
BSE 05:30 | 01 Jan Krishana Phoschem Ltd
NSE 00:00 | 23 May 44.90 0
(0.00%)
OPEN

44.75

HIGH

45.00

LOW

44.75

OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 0
Buy Price
Buy Qty
Sell Price
Sell Qty

Krishana Phoschem Ltd. (KRISHANA) - Auditors Report

Company auditors report

To

The Members of Krishana Phoschem Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Krishana Phoschem Limited("the Company") which comprise the Balance Sheet as at March 31 2018 and theStatement of Profit and Loss and Cash Flow Statement for the year then ended and a summaryof 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 in section 134(5) ofthe 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 specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of 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.

Auditors' 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 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 financial statements are free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the financial statements thatgive true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by Company'sDirectors as well as evaluating the overall presentation of the financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the financial statements.

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 state of affairs of the Company as at March31 2018;

b) In the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

Report on other Legal and Regulatory Requirements

1. 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 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;

c) The Balance Sheet and the Statement of Profit and Loss dealt with by this Report arein 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) Rules 2014;

e) On the basis of written representations received from the directors as on 31 March2018 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2018 from being appointed as a director in terms of Section 164(2) of theAct;

f) With respect to the other matters included in the Auditor's Report and to our bestof our information and according to the explanations given to us :

i. The Company does not have any pending litigations which would impact its financialposition;

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses;

iii. There were no amounts which required to be transferred to the Investor Educationand Protection Fund by the Company.

2. 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 statement on the matters specified in paragraphs 3 and4 of the Order.

For M/s. Rajneesh Kanther & Associates
Chartered Accountants
FRN 021262C
Sd/-
Rajneesh Kanther
Place: Bhilwara (Partner)
Date: 29.05.2018 M. No. 102162

ANNEXURE TO THE AUDITORS' REPORT (Referred to in our report of even date)

Annexure referred to in Point 2 of the Auditors' Report of even date to the members ofKrishana Phoschem Limited for the year ended as on March 31 2018. On the basis of suchchecks as considered appropriate and in terms of the information and explanations given tous we state as under:

(i) a. The Company has maintained proper records showing full particulars includingquantitative details and situations of fixed assets.

b. As per the information and explanations given to us fixed assets have beenphysically verified by the management at reasonable intervals; no material discrepancieswere noticed on such verification. c. As per the information given to us the title deedsof the immovable properties are held in the name of the company.

(ii) As per the information and explanation given to us the inventories have beenphysically verified during the year by the management at reasonable intervals. No materialdiscrepancy was noticed on such verification.

(iii) As per the information and explanation given to us and on the basis of ourexamination of the books of account the company has not granted loans to any partiescovered in the register maintained under section 189 of the Companies Act 2013. Thusclause iii (a) iii (b) iii (c) are not applicable.

(iv) In our opinion and according to the information and explanations given to us inrespect of loans investments guarantees and security the provisions of section 185 andI86 of the Companies Act 2013 has been complied with by the company.

(v) In our opinion and as per the information and explanations given to us and on thebasis of our examination of the books of account the company has not accepted anydeposits covered under section 73 of the Companies Act 2013.

(vi) As per information & explanation given by the management maintenance of costrecords has been prescribed by the Central Government under sub-section (1) of section 148of the Companies Act 2013 and we are of the opinion that prima facie the prescribedaccounts and records have been made and maintained.

(vii) a. According to the information and explanations given to us and the recordsexamined by us the company is generally regular in depositing undisputed statutory duesincluding provident fund employees' state insurance income-tax sales-tax wealth-taxservice tax duty of custom duty of excise value added tax cess and any other statutorydues with appropriate authorities wherever applicable. According to the information andexplanations given to us no undisputed arrears of statutory dues were outstanding as at31st March 2018 for a period of more than 6 months from the date they became due.

b. According to the record of the company there is no amounts payable in respect ofincome tax or sales-tax or wealth tax or service tax or duty of customs or duty of exciseor value added tax or cess which have not been deposited on account of any disputes.

(viii) Based on our audit procedures and the information and explanations given by themanagement we are of the opinion that the company has not defaulted in repayment of duesto financial institutions or banks. There are no debenture holders of the company.

(ix) According to the record of the company no money has been raised by way of initialpublic offer or further public offer. Company raised money of Rs. 650.00 Lacs by way ofterm loan. The loan has been utilized for the purpose for which it has been sanctioned.

(x) Based on our audit procedures performed and on the information and explanationsgiven to us we have neither came across any instances of fraud on or by the companynoticed or reported during the year nor we have been informed for such case by themanagement.

(xi) According to the records of the company and on the basis of information andexplanation given to us we are of the opinion that the managerial remuneration has beenpaid or provided in accordance with the requisite approvals mandated by the provision ofsection 197 read with schedule V to the Companies Act.

(xii) In our opinion the Company is not a nidhi. Therefore clause 12 of the Companies(Auditor's Report) order 2016 is not applicable to the Company.

(xiii) In our opinion and according to the record of the company all transactions withthe related parties are in compliance with section 177 and 188 of Companies Act 2013where applicable and the details have been disclosed in the Financial Statements etc. asrequired by the applicable accounting standards.

(xiv) According to the record of the company the company has not made any preferentialallotment or fully or partly convertibles debentures during the year. Company has madeprivate placements of shares during the year in compliance of section 42 of Companies Act2013 and amount raised has been utilized for the purpose for which it has been raised.

(xv) According to the information and explanations given to us and the records examinedby us the company has not entered into any non-cash transactions with directors or personsconnected with him.

(xvi) According to the record of the company the company is not required to beregistered under section 45 IA of the Reserve Bank of India Act 1934.

For M/s. Rajneesh Kanther & Associates
Chartered Accountants
FRN 021262C
Sd/-
Rajneesh Kanther
Place: Bhilwara (Partner)
Date: 29.05.2018 M. No. 102162