TO THE MEMBERS OF RADHIKA JEWETECH LIMITED.
Report on the Financial Statements
We have audited the accompanying financial statements of RADHIKA JEWETECH LIMITED("the company") which comprise the Balance Sheet as at 31 March 2017 theStatement of Profit and Loss the 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 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.
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 thereunder.
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 performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on our judgmentincluding the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments we considersinternal financial control relevant to the Company's preparation of the financialstatements that give true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made byCompany'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 on the financial statements.
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 March312017;
b) In the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and
c) In the case of the Cash Flow Statement of the cash flows 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 by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure-A a statement on the matters specified in the paragraph 3and 4 of the order to the extent applicable.
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 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 is also auditedby us)
c) the Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.[and the returns receivedfrom the branches which are prepared by us]
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 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.
f) with respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in "Annexure B"; and
g) 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 has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.
iv Company had provided requisites disclosure in financial statement as to holding aswell as dealing in specified Bank Notes during the period from 8th November 2016 to 30thDecember 2016. These are in accordance with the books of accounts maintained by thecompany.
| ||for H. S. JAN I & ASSOCIATES |
| ||Chartered Accountants |
| ||HERSH SAMIR JANI |
| ||Proprietor |
|Place : AHMEDABAD ||M. No. : 124104 |
|Date : 28/06/2017 ||FRN : 127515W |
ANNEXURE TO THE AUDITORS' REPORT
The Annexure referred to in our report to the members of RADHIKA JEWETECH LIMITED forthe year ended 31st March 2017.
On the basis of the information and explanation given to us during the course of ouraudit we report that:
1. (a) The company has maintained proper records showing full particulars including
quantitative details and situation of its fixed assets.
(b) These fixed assets have been physically verified by the management at reasonableintervals there was no Material discrepancies were noticed on such verification.
(c) Total Assets of company includes Immovable property also and the title deeds ofimmovable properties are held in the name of the company.
2. Physical verification of inventory has been conducted at reasonable intervals by themanagement and there is no material discrepancies were noticed
3. The company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act 2013 thus other terms are irrelevant.
4. In respect of loans investments guarantees and security all mandatory provisionsof section 185 and 186 of the Companies Act 2013 have been complied with.
5. The company has accepted new deposits from persons prohibited u/s 73 of the Act.However after conversion from partnership firm to company no new loans have beenaccepted. The old monies have been repaid after April 2017.
6. Maintenance of cost records has not been specified by the Central Government undersubsection (1) of section 148 of the Companies Act 2013.
7 (a) The company is regular in depositing undisputed statutory dues includingprovident fund
Employee's state insurance income-tax sales-tax service tax duty of customs dutyof excise value added tax cess and any other statutory dues to the appropriateauthorities.
(b) Dues of income tax or sales tax or service tax or duty of customs or duty of exciseor value added tax have been deposited on time there is no dispute is pending on the partof company.
8. The company hasn't made any default in repayment of loans or borrowing to afinancial institution bank Government or dues to debenture holders.
9. The company has raised money of Rs.6.6 Cr ( Plus Premium) by way of initial publicoffer after its conversion from Partnership firm to Limited Company during the year.
10. Neither company has done any fraud nor by its officers or employees so nothing tobe disclosed separately.
11. Managerial remuneration has been paid or provided in accordance with the requisiteapprovals Mandated by the provisions of section 197 read with Schedule V to the CompaniesAct.
12. Company is not a Nidhi Company hence nothing to be disclosed for any provisionsapplicable on Nidhi Company.
13. All transactions with the related parties are in compliance with sections 177 and188 of Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards;
14. The company hasn't made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year.
15. The company hasn't entered into any non-cash transactions with directors or personsconnected with him.
16. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.
| ||for H. S. JANI & ASSOCIATES |
| ||Chartered Accountants |
| ||HERSH SAMIR JANI |
| ||Proprietor |
|Place : AHMEDABAD ||M. No.: 124104 |
|Date: 28/06/2017 ||FRN: 127515W |