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National General Industries Ltd.

BSE: 531651 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE654H01011
BSE 00:00 | 17 Nov National General Industries Ltd
NSE 05:30 | 01 Jan National General Industries Ltd
OPEN 28.00
PREVIOUS CLOSE 28.35
VOLUME 94
52-Week high 28.35
52-Week low 27.00
P/E 2.70
Mkt Cap.(Rs cr) 16
Buy Price 28.35
Buy Qty 46.00
Sell Price 27.00
Sell Qty 6.00
OPEN 28.00
CLOSE 28.35
VOLUME 94
52-Week high 28.35
52-Week low 27.00
P/E 2.70
Mkt Cap.(Rs cr) 16
Buy Price 28.35
Buy Qty 46.00
Sell Price 27.00
Sell Qty 6.00

National General Industries Ltd. (NATLGENINDS) - Auditors Report

Company auditors report

To

The Members of

M/s NATIONAL GENERAL INDUSTRIES LTD.

New Delhi.

Opinion

We have audited the accompanying financial statements of M/sNATIONAL GENERAL INDUSTRIES LTD. (the Company) which comprise the Balance Sheet as atMarch 31 2019 the Statement of Profit and Loss (including Other Comprehensive Income)the Cash Flow Statement and the Statement of Change in Equity for the year then ended anda summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to theexplanations given to us the Financial Statements give the information required by theAct 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 2019 its Profit including Other Comprehensive Income its Cash Flowsand the Statement of Change in Equity for the year ended on that date.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditingspecified under section 143(10) of the Act and other applicable authoritativepronouncements issued by the Institute of Chartered Accountants of India. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 with respect to the preparation of thesefinancial statements that give a true and fair view of the Financial Position FinancialPerformance including Other Comprehensive Income Cash flows and the Statement of Changein Equity of the Company in accordance with the accounting principles generally acceptedin India including the Indian Accounting Standards (Ind AS) specified under Section 133 ofthe Act I read with Companies (Accounting Standards) Rule 2015 as amended.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and 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.

I Auditor's Responsibility

Our responsibility is to express an opinion on these FinancialStatements based 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 in theaudit report under the provisions of the Act and the Rules made thereunder and Orderissued under section 143(11) of the Act.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and disclosures in the financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company's preparation ofthe Financial Statements that give a true and fair view in order to design auditprocedures that are appropriate in

the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the I overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Financial Statements.

Report on Other Legal and Regulatory Requirements

1. 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 of the Act we give in the Annexure A statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable:

2. As required by section 143(3) of the Act based on our audit wereport that:

a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit;

b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books;

c) The Balance Sheet the Statement of Profit and Loss including OtherComprehensive Income the Statement of Cash Flow Statement and Statement of Changes inEquity dealt with by this Report are in agreement with the books of account;

d) In our opinion the aforesaid financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with Companies(Indian Accounting Standards) Rules 2015 as amended;

e) On the basis of the written representations received from thedirectors as on March 31 2019 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2019 from being appointed as a director interms of Section 164 (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; our report express an unmodified opinion onthe adequacy and operative effectiveness of the company's internal financial controls overfinancial reporting and

g) With respect to the other matters to be included in the Auditor'sReport in accordance with the requirements of section 197(16) of the Act as amended inour opinion and to the best of our information and according to the explanations given tous the remuneration paid by the company to its directors during the year is in accordancewith the provisions of section 197 of the Act.

h) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

a. The Company has no pending litigations having impact on itsfinancial statements.

b. The Company did not have any long-term contract including derivativecontracts which may lead to any foreseeable loss.

c. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company.

For N R & Company
Chartered Accountants
FRN - 015095C
Sd/-
Place: New Delhi Naveen Sawhney
Dated: 30.05.2019 Partner
Membership No.073713

.