To the members
of Sri Krishna Constructions (India) Limited
Report on the Standalone Financial Statements
I have audited the accompanying standalone financial statements of Sri KrishnaConstructions (India) Limited ("the Company") which comprise the Balance Sheetas at 31st March 2017 the Statement of Profit and Loss and Cash Flow Statement for theyear then ended and a summary of the significant accounting policies and otherexplanatory information.
Management'S Responsibility 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 ("the AcT") with respect to the preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position and financial performance 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
My responsibility is to express an opinion on these standalone financial statementsbased on my audit.
I 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.
I conducted my 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.
I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion on the standalone financial statements.
In my opinion and to the best of my information and according to the explanations givento me the aforesaid standalone financial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2017 its profit and its cash flows for the year ended on that 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 Act I give in the Annexure A a statement on the matters specified in the paragraph 3and 4 of the order.
2. As required by Section 143 (3) of the Act I report that:
a. I have sought and obtained all the information and explanations which to the best ofmy knowledge and belief were necessary for the purposes of my audit;
b. In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my 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 my opinion the aforesaidstandalone financial statements comply with the Accounting Standards specified underSection 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 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2017 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 myseparate 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 my opinionand to the best of my information and according to the explanations given to me:
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
iv) The Company has provided requisite disclosures in its standalone financialstatements as to holdings as well as dealings in Specified Bank Notes during the periodfrom 8 November 2016 to 30 December 2016 and these are in accordance with the books ofaccounts maintained by the Company. Refer Note 24 to the standalone financial statement.
|For Suthar & Co |
|Chartered Accountants |
|Firm's Registration No.013840S |
|Berulal Suthar |
|Membership No. 224990 |
|Date: 27.05.2017 |