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Vippy Spinpro Ltd.

BSE: 514302 Sector: Industrials
NSE: N.A. ISIN Code: INE660D01017
BSE 00:00 | 20 Jun 44.00 0
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NSE 05:30 | 01 Jan Vippy Spinpro Ltd
OPEN 44.00
PREVIOUS CLOSE 44.00
VOLUME 100
52-Week high 61.60
52-Week low 40.20
P/E 7.53
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 44.00
CLOSE 44.00
VOLUME 100
52-Week high 61.60
52-Week low 40.20
P/E 7.53
Mkt Cap.(Rs cr) 26
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vippy Spinpro Ltd. (VIPPYSPINPRO) - Auditors Report

Company auditors report

TO THE MEMBERS OF VIPPY SPINPRO LTD. Report on the Financial Statements

We have audited the accompanying financial statements ofVIPPY SPINPRO LTD. ("theCompany") which comprise the Balance Sheet as at March 31 2017 and the Statementof Profit and Loss the Cash Flow Statement for the year ended March 31 2017 and asummary of significantaccounting policies and other explanatory information.

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 financialpositionfinancialperformance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified 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 accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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 statements that give a true andfair view in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness 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 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 in conformity with the accounting principlesgenerally accepted in India of the state of affairs of the Company as at 31st March2017 and 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 in terms of section 143(11) of the Act we give in the Annexure‘A' a statement on the matters specified in paragraphs 3 and 4 of the Order.

2) As required by Section 143 (3) of the Act based on our audit we report to theextent applicable that : (a) We have sought and obtained all the information andexplanations which to the best of our knowledge and belief were necessary for the purposesof our audit; (b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books; (c) TheBalance Sheet the Statement of Profit and Loss and the Cash Flow Statement dealt with bythis Report are in agreement with the books of account; (d) In our opinion the aforesaidfinancial statements comply with the Accounting Standards specified under Section 133 ofthe Act read with Rule 7 of the Companies (Accounts) Rules 2014; (e) On the basis of thewritten representations received from the directors as on 31st March 2017 taken on recordby the Board of Directors none of the directors is disqualified as on 31st March 2017from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial reporting of theCompany controlsover refer to our separate report in Annexure ‘B'. Our reportexpresses an unmodified opinion on the adequacy and the operating effectiveness of theCompany's internal financial controls over financial reporting.

(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 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. (Refer Note 26 (b))

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 required to be transferred to the Investor Education andProtection Fund by the Company.

iv. The Company has provided requisite disclosures in the financial statements asregards its holding and dealings in Specified Bank Notes (SBN) as defined in theNotification S.O.3407 (E) dated the 8th November 2016 of the Ministry ofFinance during the period from 8th November 2016 to 30th December 2016. Based onaudit procedures performed and the representations provided to us by the management wereport that the disclosures are in accordance with books of account maintained by theCompany and as produced to us by the Management. Refer note no 33 to the financialstatement.

For Sodani & Company
Chartered Accountants
Firm Registration No. 000880C
Rajesh Sodani
Place: Dewas Partner
Date : May 27th 2017 M. No. 077005