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Rajendra Caterers & Confectioners Ltd.

BSE: 526833 Sector: Services
NSE: N.A. ISIN Code: INE151O01014
BSE 05:30 | 01 Jan Rajendra Caterers & Confectioners Ltd
NSE 05:30 | 01 Jan Rajendra Caterers & Confectioners Ltd

Rajendra Caterers & Confectioners Ltd. (RAJENDRACATER) - Auditors Report

Company auditors report

To

The Members of

M/s. RAJENDRA CATERERS AND CONFECTIONERS LIMITED

Report on the standalone Financial Statements

1. We have audited the accompanying Standalone Ind AS financial statements of M/s.RAJENDRA CATERERS AND CONFECTIONERS LIMITED ("the Company") which comprises theBalance Sheet as at March 31 2018 the Statement of Profit and Loss (including OtherComprehensive Income) the cash flow statement and the statement of changes in Equity forthe year then ended year then ended summary of significant accounting policies and otherexplanatory information.

Management's Responsibility for the Standalone Ind AS Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese Standalone Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowand changes in equity of the Company in accordance with the accounting principlesgenerally accepted in India including the Indian Accounting Standards (Ind AS) prescribedunder Section 133 of the Act.

3. This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation of the accounting records relevant to the preparationand presentation of the Standalone Ind AS financial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

Auditor's Responsibility

4. Our responsibility is to express an opinion on these Standalone Ind AS Financialstatements based on our audit. In conducting our audit we have taken into account theprovisions of the Act the accounting and auditing standards and matters which are requiredto be included in the audit report under the provisions of the Act and Rules madethereunder. We conducted our audit of the Standalone Ind AS financial statements inaccordance with the Standards on Auditing specified under section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the Standalone Ind AS financialstatements are free form material misstatement.

5. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the Standalone Ind AS financial statements. The procedures selecteddepend on the auditor's judgment including the assessment of the risks of materialmisstatement of the Standalone Ind AS financial statement whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the Standalone Ind AS financial statements thatgive a 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 the Company'sDirectors as well as evaluating the overall presentation of the Standalone Ind ASfinancial statements.

6. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone Ind AS financial statements.

Opinion

7. In our opinion and to the best of our information and according to the explanationsgiven to us. The aforesaid Standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the Indian Accounting Standards and accounting principles generally accepted inIndia of the state of affairs of the Company as at 31St March 2018 and itsprofit total comprehensive income its cash and the changes flows and the changes inequity for the year ended on that date.

Report on Other Legal and Regulatory Requirements

8. 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 Companies Act 2013 we give in the Annexure A a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

9. 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 it appears from our examination of those books

c) The Balance Sheet the Statement of Profit and Loss(including Other ComprehensiveIncome) and the Cash Flow Statement and Statement of Changes in Equity dealt with by thisreport are in agreement with the books of account.

d) In our opinion the aforesaid standalone Standalone Ind AS financial statementscomply with the Indian Accounting Standards prescribed under Section 133 of Act;

e) On the basis of the written representations received from the directors as on 31stMarch 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 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 with referencefinancial statements in place and the operating effectiveness of such controls refer toour separate report in "Annexure B" and

g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financialposition in its financial statements - Refer Note to the Standalone Ind AS financialstatements.

ii. The Company Did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There were no amounts required to be transferred to the investor Education andProtection Fund by the Company during the year.

For VIJAYARAGHAVAN & ASSOCIATES

Chartered Accountants

Date: 27.05.2018Partner

Place: Chennai

Annexure - A to Independent Auditor's Report - 31st March 2018

(Referred to in our report of even date)

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

(b) As explained to us these fixed assets have been physically verified by themanagement and in our opinion the verification is reasonable having regard to the sizeof the company and the nature of its assets. No discrepancies were noticed on suchverification.

c) There are no fixed assets in the company name.

1. In respect of its inventories The company did not carry any inventory during theyear

2. a) During the year the company has not granted any loans to Companies firms orother parties covered in the Register maintained under section 189 of the CompaniesAct2013

b) There were no loans unsecured outstanding in the books of the company.

3. The company has not accepted any Deposits from public attracting provisions ofsection 73 to 76 (both inclusive) of Companies Act 2013 or any other relevant provisionsof the Act.

4. In our opinion the company has an internal audit system commensurate with the sizeand nature of its business.

5. To the best our knowledge and as explained the Central Government has notprescribed maintenance of cost records under Section 148(1) of the of the Companies Act2013 in respect of the Company's nature of business.

6. a) According to the information and explanations given to us and the recordsexamined by us the company is regular in depositing with appropriate authoritiesundisputed statutory dues including Investor Education and Protection Fund Income TaxSales Tax Wealth Tax Service Tax Custom Duty Excise Duty Cess and other statutorydues. According to the information and explanations given to us no undisputed arrears ofstatutory dues were outstanding as at 31st March 2018 for a period of morethan six months from the date they become payable.

b) According to the information and explanations given to us there are no disputedstatutory dues in the books of the company.

c) There were no such amounts required to be transferred to Investor education andprotection fund in accordance to the relevant provisions of the Companies Act 2013

7. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the company did not have any outstanding dues tofinancial Institutions Banks or Debenture holders.

8. The company has not taken term loans from banks.

9. Based on our examination of the Balance Sheet of the company as at 31.03.2018 sincethere are no loans availed by the company from the banks the utilization of funds doesnot arise.

10. During the year covered by our audit report the Company does not have anyoutstanding debentures during the year.

11. During the year the company has not raised money through the Public Issue theutilization of funds does not arise.

12. Based upon the audit procedures performed and information and explanations given bythe management we report that no fraud on or by the company has been noticed or reportedduring the course of our audit.

13. There was no payment towards managerial remuneration and hence the requisiteapprovals mandated by the provisions of Section 197 read with Schedule V of to theCompanies Act does not arise.

14. The related party transactions are in compliance with section 177 of the CompaniesAct 2013 and where applicable the details have been disclosed in the financial Statementsas required by the Accounting Standards and Companies Act 2013.

15. The Company has not made any preferential allotment of Shares or fully or partlyconvertible debentures during the year under review as required by section 42 of theCompanies Act 2013

16. The Company has not entered into non-cash transactions with directors or personsconnected with them as required by the provisions of section 192 of the Companies Act2013.

For VIJAYARAGHAVAN AND ASSOCIATES

Chartered Accountants

P.B. VijayaraghavanDate:

Partner

Membership No.: 15103

Firm Reg. No: 005699S

Place: Chennai

27.05.2018

Annexure - A to Independent Auditor's Report - 31st March 2018

(Referred to in our report of even date)

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

(b) As explained to us these fixed assets have been physically verified by themanagement and in our opinion the verification is reasonable having regard to the sizeof the company and the nature of its assets. No discrepancies were noticed on suchverification.

c) There are no fixed assets in the company name.

1. In respect of its inventories The company did not carry any inventory during theyear

2. a) During the year the company has not granted any loans to Companies firms orother parties covered in the Register maintained under section 189 of theCompaniesAct2013

b) There were no loans unsecured outstanding in the books of the company.

3. The company has not accepted any Deposits from public attracting provisions ofsection 73 to 76 (both inclusive) of Companies Act 2013 or any other relevant provisionsof the Act.

4. In our opinion the company has an internal audit system commensurate with the sizeand nature of its business.

5. To the best our knowledge and as explained the Central Government has notprescribed maintenance of cost records under Section 148(1) of the of the Companies Act2013 in respect of the Company's nature of business.

6. a) According to the information and explanations given to us and the recordsexamined by us the company is regular in depositing with appropriate authoritiesundisputed statutory dues including Investor Education and Protection Fund Income TaxSales Tax Wealth Tax Service Tax Custom Duty Excise Duty Cess and other statutorydues. According to the information and explanations given to us no undisputed arrears ofstatutory dues were outstanding as at 31st March 2018 for a period of morethan six months from the date they become payable.

b) According to the information and explanations given to us there are no disputedstatutory dues in the books of the company.

c) There were no such amounts required to be transferred to Investor education andprotection fund in accordance to the relevant provisions of the Companies Act 2013

7. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the company did not have any outstanding dues tofinancial Institutions Banks or Debenture holders.

8. According to the information and explanations given to us the Company was tradingin shares and securities and proper records have been maintained of the transactions andcontracts. The company was making timely entries and the shares and securities were heldby the company in its own name.

9. The company has not taken term loans from banks.

10. Based on our examination of the Balance Sheet of the company as at 31.03.2018since there are no loans availed by the company from the banks the utilization of fundsdoes not arise.

11. During the year covered by our audit report the Company does not have anyoutstanding debentures during the year.

12. During the year the company has not raised money through the Public Issue theutilization of funds does not arise.

13. Based upon the audit procedures performed and information and explanations given bythe management we report that no fraud on or by the company has been noticed or reportedduring the course of our audit.

14. The managerial remuneration has been provided in accordance with the requisiteapprovals mandated by the provisions of Section 197 read with Schedule V of the CompaniesAct.

15. The related party transactions are in compliance with section 177 of the CompaniesAct 2013 and where applicable the details have been disclosed in the financial Statementsas required by the Accounting Standards and Companies Act 2013.

16. The Company has not made any preferential allotment of Shares or fully or partlyconvertible debentures during the year under review as required by section 42 of theCompanies Act 2013

17. The Company has not entered into non-cash transactions with directors or personsconnected with them as required by the provisions of section 192 of the Companies Act2013.

For VIJAYARAGHAVAN AND ASSOCIATES

Chartered Accountants

P.B. Vijayaraghavan

Partner

Membership No.: 15103

Firm Reg. No: 005699S

Place: Chennai

Date: 27.05.2018

Annexure - B to the Auditors' Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting ofRAJENDRACATERERS AND CONFECTIONERS LIMITEDas of 31 March 2018 in conjunction with our audit of thestandalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls

Over Financial Reporting Because of the inherent limitations of internal financialcontrols over financial reporting including the possibility of collusion or impropermanagement override of controls material misstatements due to error or fraud may occurand not be detected. Also projections of any evaluation of the internal financialcontrols over financial reporting to future periods are subject to the risk that theinternal financial control over financial reporting may become inadequate because ofchanges in conditions or that the degree of compliance with the policies or proceduresmay deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31 March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For VIJAYARAGHAVAN & ASSOCIATES

Chartered Accountants

P.B VIJAYARAGHAVAN

PARTNER

Membership No: 15103

Firm Reg. No: 005699S

Date: 27.05.2018 /CO