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Shailja Commercial Trade Frenzy Ltd.

BSE: 539520 Sector: Others
NSE: N.A. ISIN Code: INE195R01014
BSE 00:00 | 08 Mar Shailja Commercial Trade Frenzy Ltd
NSE 05:30 | 01 Jan Shailja Commercial Trade Frenzy Ltd
OPEN 6.01
PREVIOUS CLOSE 6.00
VOLUME 351
52-Week high 8.00
52-Week low 5.90
P/E 6.74
Mkt Cap.(Rs cr) 2
Buy Price 6.01
Buy Qty 300.00
Sell Price 6.00
Sell Qty 100.00
OPEN 6.01
CLOSE 6.00
VOLUME 351
52-Week high 8.00
52-Week low 5.90
P/E 6.74
Mkt Cap.(Rs cr) 2
Buy Price 6.01
Buy Qty 300.00
Sell Price 6.00
Sell Qty 100.00

Shailja Commercial Trade Frenzy Ltd. (SHAILJACOMMERC) - Auditors Report

Company auditors report

To The Members of

M/S. SHAILIA COMMERCIAL TRADE FRENZY LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of SHAILJA COMMERCIAL TRADEFRENZY LIMITED ("the company") which comprise the Balance Sheet as at 31March 2019 the Statement of Profit and Loss for the year then ended and a summary ofsignificant accounting policies and other explanatory information. Management'sResponsibility 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 andpresentation of these standalone financial statements that give a true and fair view ofthe financial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions 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 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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of 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 standalone financial statements.

Opinion

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 Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India.

i. in the case of the balance sheet of the state of affairs of the Company as at 31March 2019;

ii. in the case of the statement of profit and loss of the profit for the year endedon that date; Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ('the Order') issued bythe Central Government of India in terms of sub-section (11) of section 143 of the Act wegive in the Annexure a statement on the matters specified in the paragraph 3 and 4 of theOrder to the extent applicable. 2. As required by section 143(3) of the Act we reportthat:

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 and the statement of profit and loss dealt with by this Report arein agreement with the books of account;

d. in our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

e. On the basis of the written representations received from the directors as on 31March 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2019 from being appointed as a director in terms of Section164 (2) of the Act;

f. 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 - the company does not have any pending litigationswhich would impact its financial position

ii. the Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts - the company does not have any long term contract includingderivative contract for 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.

For Mohan Das & Co

Firm Registration No. 106529W

Chartered Accountants

Sd/-

Belle Mohandas Shetty

Proprietor

M. No: 031256

Place: Mumbai

Date:

Annexure to the Auditors' Report

The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the standalone financial statements for the year ended 31 March 2019 we reportthat:

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

(b) The Company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified in a phased manner over a period of three years. Inaccordance with this programme certain fixed assets were verified during the year and nomaterial discrepancies were noticed on such verification. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

(ii) (a) The inventory has been physically verified by the management at reasonableintervals during the year.

(b) The procedures of physical verification of the inventories followed by themanagement are reasonable and adequate in relation to the size of the Company and thenature of its business.

(c) The Company has maintained proper records of inventories. As per the informationand explanations given to us discrepancies noticed on physical verification between thephysical stocks and book records were not material.

(iii) The Company has not granted any loans secured or unsecured to companies firmsor other parties covered in the register maintained under section 189 of the Act.Accordingly the provisions of clause (iii) of the Order are not applicable to theCompany.

(iv) in our opinion and according to the information and explanations given to usthere is an adequate internal control system commensurate with the size of the Company andthe nature of its business with regard to purchase of fixed assets and sale of goods. Wehave not observed any major weakness in the internal control system during the course ofthe audit.

(v) The Company has not accepted any deposits from the public.

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Act for any of the services rendered by the Company.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including provident fund income taxsales tax wealth tax service tax duty of customs value added tax cess and othermaterial statutory dues have been regularly deposited during the year by the Company withthe appropriate authorities. As explained to us the Company did not have any dues onaccount of employees' state insurance and duty of excise. According to the information andexplanations given to us no undisputed amounts payable in respect of provident fundincome tax sales tax wealth tax service tax duty of customs value added tax cess andother material statutory dues were in arrears as at 31 March 2018 for a period of morethan six months from the date they became payable.

(b) According to the information and explanations given to us there are no materialdues of wealth tax duty of customs and cess which have not been deposited with theappropriate authorities on account of any dispute.

(c) According to the information and explanations given to us the amounts which wererequired to be transferred to the investor education and protection fund in accordancewith the relevant provisions of the Companies Act 1956 (1 of 1956) and rules there underhas been transferred to such fund within time.

viii) The Company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses in the financial year and in the immediately precedingfinancial year.

(ix) The Company has not defaulted in repayment of dues to financial institutionsbanks or debenture holders during the year.

(x) In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.

(xi) The Company did not have any term loans outstanding during the year.

(xii) According to the information and explanations given to us no material fraud onor by the Company has been noticed or reported during the course of our audit.

For Mohan Das & Co

Firm Registration No. 106529W

Chartered Accountants

Sd/-

Belle Mohandas Shetty

Proprietor

M. No: 031256

Place: Mumbai

Date: 30/09/2019

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