TO THE MEMBERS OF RAGHUNATH INTERNATIONAL LIMITED Report on theStandalone Financial Statements
W e have audited the accompanying Standalone Financial Statements of RaghunathInternational Limited ("the Company") which comprise the Balance Sheet asat March 31 2017 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.
Management's Responsibility for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters statedin section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provision of the Act for safeguarding of the assets of the Companyand for preventing and detecting the 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 control that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these standalonefinancial statements based on our audit. We have taken into account the provisions of theAct the accounting and auditing standards and matters which are required to be includedin the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditingspecified under section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the standalone financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence aboutthe amounts and disclosures in the standalone financial statements. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the standalone financial statements whether due to fraud orerror. In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the standalone financial statements that givetrue and fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting andoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe standalone financial statements. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our audit opinion on the standalonefinancial statements.
In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India.
(a) in the case of Balance Sheet of the state of affairs of theCompany as at March 31 2017 (b) in the case of the Statement of Profit and Loss of theProfit for the year ended on that date and (c) in the case of Cash Flow Statement of cashflows for the year ended on that date.
Report on other Legal and Regulatory Requirements
(1) As required by the Companies (Auditors' Report) Order2016("the Order") issued by the Central Government of India in terms ofsub-section (11) of section 143 of the Act we give in the Annexure-"A" astatement on the matters Specified in paragraphs 3 and 4 of the Order to the extentapplicable.
2. As required by section 143(3) of the Act we report 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 and Cash FlowStatement dealt with by this Report are in agreement with the books of account.
d) In our opinion the aforesaid standalone financial statements complywith the Accounting Standards specified under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014.
e) On the basis of written representations received from the directorsas on 31 March 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 controlsover financial reporting of the Group and operating of such controls refer to ourseparate report in Annexure "B" and
g) with respect to other matters to be included in the Auditors' Reportin accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in ouropinion and to the best of our information and according to the explanations given to us:
i. The Company has pending litigations which may have impact on itsfinancial position in its standalone financial statement as of March 31 2017 (Refer toPoint No. 23 of the "Notes to Accounts");
ii. The Company did not have any long term contracts includingderivatives contracts;
iii. There were no amounts which are required to be transferred toInvestor's Education and Protection Fund by the company;
iv. The Company has provided requisite disclosure in its financialstatement as to holdings as well as dealings the Specified Bank Notes (SBN) these are inaccordance with Books of Accounts maintained by the Company. (Refer to Point No. 27 of the"Notes to Accounts").
Firm Registration No.: 005120N
Virendra Kumar Goel
Membership No.: 083705
Place: New Delhi
Date: May 30 2017