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Auditor Report of Anisha Impex Ltd.

Mar 31, 2015

1. We have audited the accompanying financial statements of ANISHA IMPEX LIMITED (the Company) as on 31st MARCH 2015which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

2. The management and Board of Directors of the Company are responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ('the act') with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with rule 7 of Companies (Accounts) Rules, 2014. This responsibility includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; design, implementation and maintenance of adequate internal financial controls, that are operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements, that give a true and fair view, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's management and Board of Directors, as well as

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

6. In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as at 31st March 2015, its profit/loss and its cash flows for the year ended on that date.

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2015;

b) in the case of the Profit and Loss Account, of the profit/ loss for the year ended on that date; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

7. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters Specified in paragraphs 3 and 4 of the Order,to the extent applicable.

8. As required by section 114(3) of the Act, we report that:

a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books

c) the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) in our opinion, the aforesaid financial statements comply with the applicable Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014

e) on the basis of written representations received from the directors as on March 31, 2015, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of Section 164(2) of the Act

f) In our opinion and to the best of our information and according to the explanations given to us, we report as under with respect to other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014::

(i) The Company does not have any pending litigations which would impact its financial position

(ii) The Company did not have any long-term contracts including derivative contracts; as such the question of commenting on any material foreseeable losses thereon does not arise

(iii) There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of delay in transferring such sums does not arise

ANNEXURE REFERRED TO IN THE AUDIT REPORT OF EVEN DATETO THE MEMBERS OF ANISHA IMPEX LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2015

On the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of our audit, we report that:

I (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets; (b) As explained to us, fixed assets have been physically verified by the management at regular intervals; According to the information and explanation given to us, no material discrepancies were noticed on such verification;

2. In our opinion and according to the inormation given to us and on the basis of our examination of the records of inventoy, the company is maintaing proper records of inventory and no discrepancies were noticed on physical vertification of inventory as compared to book records.

3. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Companies Act,2013.

4. In our opinion and according to the information and explanation given to us,there are an adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any continuing failure to correct any major weaknesses in internal controls.

5. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013

6. In our opinion the company has and internal audit system commensurate with its size and the nature of its business.

7. As informed to us, the Central Government has not prescribed maintenance of cost records under sub-section (1) of Section 148 of th. Act,in respect of the activities carried on by the Company

8. According to the records of the company and information and explanations given to us, the Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, employees state insurance (ESI), Investor Education and Protection Fund, Income-tax, Tax deducted at sources, Tax collected at source, Professional Tax, Sales Tax, value added tax (VAT), Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other material statutory dues applicable to it, with the appropriate authorities.

9. There was no amount outstanding as on 31st MARCH 2015 in respect of undisputed income tax, sales tax, custom duty, excise duty for a period of more than six months from the date, they became payable.

10 There were no amounts which required to be transferred by the Company to the Investor Education & Protection Fun,

II The compnay does not have accumulated losses at the end of financial year equal to or more than 50% of its networth. The company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

11. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the company has not defaulted in payment of dues to financial institutions and banks. The company does not have any borrowings by way of debtneutes.

12. The company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion and according to the information and explanations given to us, the nature of activities of the company does not attract any special statute applicable to chit fund and nidhi/mutual benefit fund/societies.

14. Proper records have been maintained of the transactions and contracts and timely entries have been made therein for dealing or trading in shares, securities, debentures and other investments

15. In our opinion and according to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions.

16. The company has not obtained any term loans.Hence the question of application for the purpose for which they were obtained does notarise.

17. According to information and explainations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long term investments.No long term funds have been used to finance short term investments.

18. The company has made preferential allotment of shares to parties and companies covered in the Register under sec 301 of the Act

19. The company has not issued any debentures.

20. The company has raised money by public issue for the year ended 31.03.2015

21. Based on the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year.

For MARS & Associates

(Chartered Accountants)

Sd/-

Place : DELHI

Dated : 30/05/2015

(Sd- RAJESH KUMAR AGRAWAL, Partner)

M.N. 89057


Mar 31, 2014

We have audited the accompanying financial statements of ANISHA IMPEX LIMITED (the Company) as on 31st MARCH 2014 which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

MANAGEMENT''S RESPONSIBILITY FOR THE FINANCIAL SYATEMENTS

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13 th September,2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 . This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITOR''S RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

OPINION

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

b) in the case of the Profit and Loss Account, of the profit/ loss for the year ended on that date; and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

As required by the Companies (Auditors'' Report) Order, 2003 issued by the Central Government of India in terms of Section 227 (4A) of the Companies Act, 1956, we enclose in the Annexure hereto a statement on the matters specified in Paragraph 4 & 5 of the said order.

2. As required by section 227(3) of the Act, we report that:

a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books

c) the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 read with the General Circular 15/2013 dated 13 th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013;

e) on the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company. Further to our comments in the Annexure referred to above we report that:

(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

(b) In our opinion proper books of accounts, as required by Law have been kept by the Company, so far as appears from our examination of the books;

(c) The balance sheet and Profit & Loss account dealt with by this report are in agreement with the books of accounts;

(d) In our opinion, the Balance Sheet and Profit and Loss account comply with the accounting standards referred to in sub section (3C) of section 211 of the Companies Act,1956;

(e) On the basis of written representations received from the directors, as on 2013-2014 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 2013-2014 from being appointed as Directors in terms of clause (g) of sub section (1) of Section 274 of the Companies Act, 1956;

(f) In our opinion and to the best of our information and according to the explanations given to us the said accounts read with the notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

ANNEXURE REFERRED TO IN THE AUDIT REPORT OF EVEN DATE TO THE MEMBERS OF ANISHA IMPEX LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2014

1. The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. Physical verification of Fixed Assets has been carried out by the Management and no discrepancies were noticed on such verification. There was no substantial disposal of fixed assets during the year.

2. According to the information and explanations given to us, the Management has physically verified the inventory during the year. In our opinion the frequency of verfication s reasonable.

3. The procedure adopted for physical verification of stock reasonable and adequate in relation to the size of the Company and the nature of its business.

4. In our opinion and according to the inormation given to us and on the basis of our examination of the records of inventoy, the company is maintaing property records of inventory and no discrepancies were noticed on physical vertification of inventory as compared to book records.

5. The company has taken interest free unsecured loans from the Directors. In our opinion rate of interest and other terms and conditions on which loans have been taken from the parties listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie prejudicial to the interest of the company.

6. The company has not given any loans to the companies, firms or parties listed in the register maintained under section 301 of the Companies Act,1956

7. In our opinion and according to the information and explanation given to us,there are an adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any continuing failure to correct any major weaknesses in internal controls.

8. In our opinion and according to the information and explanation given to us, and accroding to the registers produced before us , we are of the opinion that the transactions that need to be entered into the register in pursuance of section 301 of the Companies Act 1956, have been so entered.

9. In our opinion and according to the information and explanation given to us , the transactions made in pursuance of contracts and arrangements entered in the register maintained under section 301 of the Companies Act, 1956 exceeding the value of Rs. 5,00,000/- in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices, at the relevant time.

10. The company has not accepted any deposits from the public within the purview of section 58A of the Companies Act, 1956 and the rules framed there under.

11. In our opinion the company has and internal audit system commensurate with its size and the nature of its business.

12. The cost records are not required to be maintained by the company u/s 209 (1)(d) of the Compaies Act,1956

13. The provision of Provident Fund Act and ESIC are applicable to the company.

14. There was no amount outstanding as on 31st MARCH 2014 in respect of undisputed income tax, sales tax, custom duty, excise duty for a period of more than six months from the date, they became payable.

15. The compnay does not have accumulated losses at the end of financial year equal to or more than 50% of its networth. The company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

16. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the company has not defaulted in payment of dues to financial institutions and banks. The company does not have any borrowings by way of debtneutes.

17. The company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

18. In our opinion and according to the information and explanations given to us, the nature of activities of the company does not attract any special statute applicable to chit fund and nidhi/mutual benefit fund/societies.

19.Proper records have been maintained of the transactions and contracts and timely entries have been made therein for dealing or trading in shares, securities, debentures and other investments

20. In our opinion and according to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions.

21. The company has not obtained any term loans.Hence the question of application for the purpose for which they were obtained does not arise.

22. According to information and explainations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short term basis have been used for long term investments.No long term funds have been used to finance short term investments.

23. The company has made preferential allotment of shares to parties and companies covered in the Register under Sec 301 of the Companies Act, 1956

24. The company has not issued any debentures.

25. The company has raised money by public issue.

26. Based on the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year.



For MARS & Associates (Chartered Accountants) Sd/- Place : DELHI Dated : 30/05/2014 (Rajesh Kumar Agarwal-Partner) M.N.-89057

 
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