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Sigrun Holdings Ltd.

BSE: 531863 Sector: Financials
NSE: N.A. ISIN Code: INE633D01022
BSE 00:00 | 04 Mar Sigrun Holdings Ltd
NSE 05:30 | 01 Jan Sigrun Holdings Ltd
OPEN 0.15
PREVIOUS CLOSE 0.15
VOLUME 59400
52-Week high 0.15
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 8
Buy Price 0.14
Buy Qty 165850.00
Sell Price 0.15
Sell Qty 34000.00
OPEN 0.15
CLOSE 0.15
VOLUME 59400
52-Week high 0.15
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 8
Buy Price 0.14
Buy Qty 165850.00
Sell Price 0.15
Sell Qty 34000.00

Sigrun Holdings Ltd. (SIGRUNHOLDINGS) - Auditors Report

Company auditors report

To

The Members of

SIGRUN HOLDING LIMITED

Report on the Financial Statements

We have audited the accompanying Financial Statements of SIGRUN HOLDING LIMITED ("the Company") which comprise the Balance Sheet as at March 31 2015 the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management 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 standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting 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 provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting 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 controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

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 issued by theInstitute of Chartered Accountants of India. Those standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the Financial Statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the Financial Statements. The procedures selected depend on the auditors'judgment including the assessment of the risks of material misstatement of the FinancialStatements whether due to fraud or error. In making those risk assessment auditorconsiders internal control relevant to the Company's preparation and presentation of theFinancial Statements the 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 the effectiveness risk assessments of the Company's internal control. An auditalso includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by management as well as evaluating theoverall 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.

Opinion

In our opinion and to the best of our information and according to the explanationsgives to us the Financial Statements give the information required by the Companies Act2013 in the manner so required and give true and fair view in conformity with theaccounting principles generally accepted in India.

(a) In the case of the Balance Sheet of the state of affairs of the company as atMarch 31 2015;

(b) In the case of the Statement of Profit and Loss of the loss for the year ended 31stMarch 2015.

(c) In the case of the Cash Flow Statement of the cash flow for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1 As required by the Companies (Auditor's Report) Order 2015 ("the Order) issuedby the Central Government of India in terms of sub-section (11) of section 143 of theCompanies Act 2013. We give in the Annexure a statement on the matters specified inparagraph 3& 4 of the order 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 explanation which to the bestof our knowledge and belief were necessary for the purpose of our audit.

(b) In our opinion proper books of accounts as required by the law have been kept bythe company so far as it appears from our examination of the books.

(c) The balance sheet the Statement of Profit & Loss and Cash Flow Statementdealt with by this Report are in agreement with the books of accounts.

(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 written representation received from the directors as on March 312015 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2015 from being appointed as a director in terms of section 164(2) of theAct.

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

ii. The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts.

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

For SARDA & PAREEK

Chartered Accountants

FRN 109262W

Sd/-

CA. Griraj Soni

Partner

Memb No: 109738

Place: Mumbai

Date: 30th May 2015

ANNEXURE TO THE AUDITOR'S REPORT

Annexure referred to in Para 1 of our Report of even date on the financial statementsfor the year ended 31st March 2015 of SIGRUN HOLDING LIMITED

Based on the audit procedures performed for the purpose of reporting a true and fairview of the financial statements of the Company and taking into consideration theinformation and explanations given to us and the books and other records examined by us inthe normal course of our audit in our opinion and to the best of our knowledge we reportthat:

I. (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of its fixed asset.

(b) Fixed asset was physically verified during the year by the management which in ouropinion is considered reasonable. No material discrepancies were noticed on suchverification.

II. Having regard to the nature of company's business/activities/results during theyear Clause (ll) and its sub-clauses of paragraph 3 of the order are not applicable tothe company.

III. The company has taken unsecured loan from a single firm covered under section 189of the Companies Act 2013.The maximum balance of the loan is Rs. 17.66 lacs and yearendbalance of the loan is Rs. 17.66 lacs.

(a) In respect of loans taken repayment of the principal amount is on demand.

(b) The overdue amount is not more than Rs 1 lacs.

IV. There is an adequate internal control system commensurate with the size of thecompany and the nature of its business with regard to the fixed assets and the sale ofgoods and services. On the basis of above test check carried by us there is no continuingfailure to correct major weakness in the internal controls.

V. The Directives issued by the Reserve Bank of India and the provisions of sections 73to 76 or any other relevant provisions of the Companies Act 2013 and the rules framedthere under have been complied with in respect of deposits accepted from the publicHowever company has not accepted public deposit for the year ended 31st March2015.

VI. The Company has not been prescribed by the Central Government under section 148(1)of the Companies Act 2013 to maintain cost records.

VII. (a) The Company has been regular in depositing undisputed statutory dues includingIncome Tax Sales Tax Service Tax Wealth Tax Custom Duty Excise Duty Cess VAT andother material statutory dues with appropriate authorities.

(b) On the basis of examination of the books of account there is no due of Income TaxSales Tax Wealth Tax Service Tax Duty of customs Duty of Excise Vat Cess which isdisputed and not deposited.

(c) The requirement of transferring amount to Investor and Education Protection Fund isnot applicable to the company.

VIII. The Company has accumulated losses amounting to Rs 27760.95 lacs at the end ofthe financial year covered by the audit which is more than 50% of its net worth. Thecompany has incurred cash losses in the current year amounting to Rs 12.74 lacs and in theimmediately preceding financial year amounting to Rs.10.62 lacs.

IX. According to the records of the Company examined by us and the information andexplanation given to us the Company has not defaulted in repayment of dues to anyfinancial institution or bank as at the balance sheet date.

X. The Company has not given any guarantee for loans taken by others from bank orfinancial institutions.

XI. In our opinion and according to the information and explanations given to us and onan overall examination the company has not taken any term loan during the year.

XII. As explained to us no fraud on or by the Company has been noticed or reportedduring the period covered by our audit.

For SARDA & PAREEK

Chartered Accountants

FRN 109262W

Sd/-

CA. Giriraj Soni

Partner

Memb No: 109738

Place: Mumbai

Date: 30th May 2015.

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