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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


Report on the standalone Financial Statements


We have audited the accompanying Standalone financial statements of which comprises theBalance Sheet as at March 31 2019 the Statement of Profit and Loss the Statement ofchanges in Equity and the statement of cash flows for the year then ended and notes tothe financial statements including a summary of significant accounting policies and otherexplanatory information .

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Companies Act 2013 in the manner so required and give a true and fair view inconformity with the Indian accounting standards prescribed under Section 133 of the Actread with Companies(Indian Accounting Standards) Rules 2015 and amended and otheraccounting principles generally accepted in India of the state of affairs of the Companyas at March 31 2019 and loss and total comprehensive income and its cash flows for theyear ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key Audit matters are those matters that in our professional judgement were of mostsignificance in our Audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.

Information other the Standalone financial statements and Auditor's Report thereon

The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the Board'sReport including Annexures to Board's Report Management Discussion and Analysis Report onCorporate Governance Business Responsibility Report but does not include the Standalonefinancial statements and our Auditor's report thereon.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance thereon.

In connection with our audit of standalone financial statements our responsibility isto read the other information and in doing so consider whether the other information ismaterially inconsistent with the Standalone financial statements or our knowledge obtainedduring the course of our Audit or otherwise appears to be materially misstated.

If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.

Responsibility of Management for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 with respect to the preparation of these standalonefinancial 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. This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate implementation and maintenance of accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statement that give a true and fair view andare free from material misstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financialreporting process

Auditor's Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

Report on other legal and Regulatory Requirements

1) As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India We give in the annexure a statement of the matters specified inSection 143 (11) of the order

2) As required by section143(3) of the Act we report that

a) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this Report are in agreement with the books of account.

d) in our opinion the Balance sheet Statement of Profit and Loss and Cash FlowStatement comply with the Accounting Standards referred to section 133 of the CompaniesAct 2013.

e) on the basis of written representations received from the directors as on 31stMarch 2019 and taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2019 from being appointed as directors in terms of Subsection (2) of section 164 of the Companies Act 2013.

f) The Company does not have any branch offices

g) 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 "Annexure B'.

h) The books of accounts have been maintained properly and no such matters arose duringthe course of Audit which enables us for Qualification

i) No such matters came to light upon audit of financial transactions which may have anadverse effect on the functioning of the Company

j) 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 does not have any pending litigations which would impact its financialposition.

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 which were required to be transferred to the investoreducation and protection fund by the company.

Chartered Accountants
Place: Chennai Membership No:15103
Date: 27.04.2019 Firm RegNo: 005699S

Annexure - A to Independent Auditor's Report - 31st March 2019

1. The Company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets. As explained to me the physicalverification of Fixed Assets on 31.03.2019 was conducted by the management during theyear. In my opinion the frequency of verification is reasonable. To the best of myknowledge no material discrepancies have been noticed. And during the year under Auditthe Company has not disposed and of its Fixed Assets. The title deeds of immovableproperty are held in the name of the Company.

2. Since the Company has not purchased or sold goods during the year nor is there anyopening stock requirement of reporting on physical verification of stocks or maintenanceof inventory records in my opinion does not arise.

3. The Company has not granted any Loans or Advances in the nature of Loans to partiescovered in the Register maintained U/s 189 of the Companies Act'2013. Hence the questionof reporting whether the terms and conditions of such loans are prejudicial to theinterest of the Company.

4. The Company has an adequate internal control procedure commensurate with the size ofthe Company and its nature of business and there are no major weaknesses in internalcontrol.

5. The Company has not accepted any deposits from the public during the Financial Yearunder Audit.

6. The Company has an Internal Audit system commensurate with its size and nature ofbusiness.

7. Requirement of Maintenance of Cost records prescribed by the Central Governmentunder the Companies Act 2013 does not apply.

8. According to the information an explanations given to us and the records examined byus the Company has been generally regular in depositing with appropriate authoritiesundisputed statutory dues including Investor Education and Protection Fund Income TaxSales Tax GST Wealth Tax Service Tax Custom Duty Excise Duty Cess and otherstatutory dues. According to the information and explanations given to us no undisputedarrears of statutory dues were outstanding as at 31st March 2019 for a periodof more than six months from the date they become payable.

According to the information and explanations given to us there were some disputedstatutory dues in the books of the company for which they have an appeal with theAuthority and the details of the same are provided below:

Sl. No. Financial Year Value in Rs. Particulars
1 1996-97 936143 Income Tax Demand
2 2000-01 1902 Income Tax Demand
3 2001-02 4696 Income Tax Demand
Total 942741

9. The Company has not obtained any loan from any Financial Institution or Bank andhence details regarding default in repayment of dues do not arise.

10. The Company has not granted Loans and Advances on the basis of Security by way ofpledge of shares debentures and other securities.

11. The Company is not a Chit Fund Company and hence details on these lines could notbe given.

12. No managerial remuneration has been paid during the year and the provisions ofSection 197 read with Schedule V of the act does not apply to the company.

13. The Company does not have related parties hence compliance with Section 177 and 188of the act does not arise.

14. The Company has not entered into any non- cash transactions with directors orpersons connected with Directors. Accordingly clause (xiv) of para 3 of the order is notapplicable to the company

15. The Company is not dealing or trading in shares Securities Debentures and otherInvestments.

16. The Company has not given any Guarantee for loans taken by others from Bank ofFinancial Institutions during the Financial Year under audit.

17. The Company has not taken and Term Loan during the Financial Year under audit.

18. The Company has not raised any funds on any Short –term or Long-term basisduring the Financial Year under audit.

19. The Company has not made any preferential allotment of Shares during the financialyear under audit.

20. The Company has not issued any debentures and hence the question of creation ofsecurities in respect of debentures does not arise.

21. The management has disclosed on the end use of money raised by public issues andthe same has been verified and the company has not raised any money by public issueduring the year.

22. No fraud on or by the Company has been noticed or reported during the FinancialYear under audit

23. The Company is not required to be registered under section 45-IA of the Reservebank of India act 1934 accordingly clause (xvi) of the order are not applicable to thecompany.

Chartered Accountants
P.B. Vijayaraghavan
Place: Chennai Membership No.: 15103
Date: 27.04.2019 Firm Reg. No : 005699S

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 of RAJENDRACATERERS & CONFECTIONERS LIMITED as of 31 March 2019 in conjunction with our auditof the standalone 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'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required 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.


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 2019 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.

Chartered Accountants
Place : Chennai Membership No : 15103
Date : 27.04.2019 Firm Reg. No :005699S