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Rekvina Labs Ltd.

BSE: 526075 Sector: Health care
NSE: N.A. ISIN Code: INE092O01028
BSE 00:00 | 15 Apr Rekvina Labs Ltd
NSE 05:30 | 01 Jan Rekvina Labs Ltd
OPEN 5.05
PREVIOUS CLOSE 5.05
VOLUME 400
52-Week high 5.55
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 3
Buy Price 5.05
Buy Qty 600.00
Sell Price 5.30
Sell Qty 1170.00
OPEN 5.05
CLOSE 5.05
VOLUME 400
52-Week high 5.55
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 3
Buy Price 5.05
Buy Qty 600.00
Sell Price 5.30
Sell Qty 1170.00

Rekvina Labs Ltd. (REKVINALABS) - Auditors Report

Company auditors report

To the Members of

REKVINA LABORATORIES LTD.

Report on the Financial Statements

We have audited the accompanying financial statements of REKVINA LABORATORIES LTD.("the Company") which comprise the Balance Sheet as at 31st March2018 and the Statement of Profit and Loss the Cash Flow Statement for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating 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.

Auditor's Responsibility

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 there under.

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 andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

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

Opinion

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 state of affairs of the Company as at 31st March 2018

(b) In the case of profit/loss and its cash flows for the year ended on that date

(c) In the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

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 Companies Act 2013 we give in the ‘Annexure A' 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 it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

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 the written representations received from the directors as on 31stMarch 2018 and 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 over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in ‘Annexure B'.

For JIGAR ADHYARU & CO.
Chartered Accountants
FRN: 142223W
Sd/-
Place:-VADODARA JIGAR BHIKHABHAI ADHYARU
Date: 30.05.2018 (CHARTERED ACCOUNTANT)
Membership 147598
No.

Annexure ‘A' ANNEXURE TO THE AUDITORS' REPORT

The Annexure referred to in our Independent Auditors' Report to the member of theCompany on "Other Legal and Regulatory Requirements" for the year ended 31stMarch 2018

We report that:

1. Fixed Assets

a. The company has not maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

b. As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

c. The title deeds of immovable properties are held in the name of the company.

2. INVENTORIES

As explained to us inventories have been physically verified during the year by themanagement at reasonable intervals. No material discrepancy was noticed on physicalverification of stocks by the management as compared to book records.

3. LOANS

The company has granted loans to Companies firms or other parties covered in theregister maintained under section 189 of the Companies Act 2013 wherein the balancereceivable as at the year-end is Rs.42646/-. The maximum amount outstanding during theyear was Rs. 220304/-.

a. The terms and conditions of the grant of such loans are not prejudicial to thecompany's interest;

b. The terms of arrangement do not stipulate any repayment schedule and the loans arerepayable on demand without interest.

c. There are no overdue amounts in respect of the loans granted to the parties listedin the register maintained under section 189 of the Act.

4. In respect of loans investments guarantees and security provisions of section185 and 186 of the Companies Act 2013 have been complied with.

5. The company has not accepted any deposits from the public covered under sections 73to 76 of the Companies Act 2013.

6. As per information & explanation given by the management maintenance of costrecords has not been specified by the Central Government under sub-section (1) of section148of the Companies Act 2013.

7. STATUTORY DUES

a. According to the records of the company the following is the details of undisputedstatutory dues amount payable in respect of Income-tax Sales-tax Service Tax CustomDuty Excise Duty value added tax cess were in arrears as at 31st of March2018 for a period of more than six months from the date they became payable.

Sr. No. Statutory Dues With Whom the dispute is pending Unpaid Amount Rs.
1. TDS A.Y. 2014-15 ITO Rs. 793.50
2. TDS A.Y. 2016-17 ITO Rs. 579
3. TDS A.Y. 2017-18 ITO Rs. 7321

b. According to the information and explanations given to us the following are thedetails of disputed income tax service tax sales tax customs duty excise duty valueadded tax and cess to the concerned authorities.

Sr. No Statutory Dues With Whom the dispute is pending Unpaid Amount
Rs.
1. Income Tax-AY 1999-00 CIT(A) Rs. 417926
2. Income Tax-AY 2000-01 CIT(A) Rs. 507098
3. Income Tax-AY 2002-03 CIT(A) Rs. 91316

8. In our opinion and according to the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank Government or debenture holders as applicable to thecompany.

9. Based on our audit procedures and according to the information given by themanagement the company has not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) or taken any term loan during the year.

10. According to the information and explanations given to us we report that no fraudby the company or any fraud on the Company by its officers or employees has been noticedor reported during the year.

11. According to the information and explanations given to us we report thatmanagerial remuneration has been paid in accordance with the requisite approvals mandatedby the provisions of section 197 read with Schedule V to the Companies Act.

12. The company is not a Nidhi Company. Consequently requirements of clause (xii) ofthe order are not applicable to the company.

13. According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where applicable and the details have been disclosed in the Financial Statements etc. asrequired by the applicable accounting standards.

14. The company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15. The company has not entered into 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 JIGAR ADHYARU & CO.
Chartered Accountants
FRN: 142223W
Sd/-
Place:-VADODARA JIGAR BHIKHABHAI ADHYARU
Date: 30.05.2018 (CHARTERED ACCOUNTANT)
Membership 147598
No.