The Members of
TULASEE BIO-ETHANOL LIMITED MUMBAI.
1. We have audited the attached Balance Sheet of TULASEE BIO-ETHANOL LIMITED MUMBAIas at 31ST MARCH 2017 the Profit and Loss Account and also the Cash FlowStatement for the year ended on that date annexed thereto. These financial statements arethe responsibility of the Company's management. Our responsibility is to express anopinion on these financial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards generally acceptedin India. Those Standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. Anaudit includes examining on a test basis evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by management as well as evaluating the overallfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.
3. As required by the Companies (Auditor's Report) Order 2003 issued by the CentralGovernment of India in terms of section 227(4A) of the Companies Act 1956 we enclose inthe Annexure a statement on the matters specified in paragraphs 4 and 5 of the said orderto the extent applicable to the company.
4. Further to our comments in the Annexure referred to above we report that:
i) we have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of our audit;
ii) 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;
iii) the Balance Sheet Profit & Loss Account and Cash Flow Statement dealt with bythis report are in agreement with the books of account;
iv) in our opinion the Balance Sheet Profit & Loss Account and Cash FlowStatement dealt with by this report comply with the accounting standards referred to insub-section (3C) of Section 211 of the Companies Act 1956;
v) on the basis of written representations received from the directors as on 31stMarch 2016 and 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 clause(g) of sub-section (1) of section 274 of the Companies Act 1956;
vi) in our opinion and to the best of our information and according to the explanationsgiven to us the said accounts subject to Note No.6 regarding non-provision ofdepreciation and Note No.7 regarding non-provision of gratuity and read together withother notes thereon give the information required by the Companies Act 1956 in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:
a) in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2017;
b) in the case of the Profit and Loss Account of the profit for the year ended on thatdate; and
c) in the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.
| ||Sd/- |
| ||For A. C. Jhaveri & Associates |
| ||Chartered Accountants |
| ||C.A. Amit C. Jhaveri |
| ||(Partner) |
|Place : Mumbai ||M. No. : 39525 |
|Date : 17-05-2017 ||Firm No. 137685W |