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Auditor Report of Chordia Food Products Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of Chordia Food Products Limited ('the Company'), which comprise the Balance Sheet as at 31st March, 2015 the Statement of Profit and Loss, the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and explanatory information.

Management's Responsibility for the Financial Statements

The Company's Management is 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 lows of the Company in accordance with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and the presentation of the financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these Financial Statement based on our audit. We conducted our audit in accordance with the Standards on Auditing under Section 143(10) of the Act. Those Standards require that we comply with the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Financial Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risk of material misstatement of the financial statement, whether due to fraud or error in making those risk assessments, that auditor considers the internal controls 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, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management as well as evaluating the overall presentation of the Financial Statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statement gives the information required by the Act in the manner so required and gives 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 31st March, 2015;

b. In the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date.

c. In the case of the Cash Flow Statement, of the Cash Flows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

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 Paragraph 3 & 4 of the Order to the extent applicable.

As required by Section 143 (3) of the Act, we report that:

a. We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purposes of our audit.

b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

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

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the accounting Standards notified under the Act under Section 133 of Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014.

e. On the basis of the written representation received from the Directors as on 31st March, 2015 taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2015 from being appointed as a Director in terms of Section 164 (2) of the Act.

Annexure to the Auditors' Report [As referred to in our Report of even date]

Report under the Companies (Auditors Report) Order, 2015

We report that:- 1. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed Assets.

(b) The major portion of fixed assets has been physically verified by the Management during the year. In our opinion the frequency of physical verification of fixed asset by the management is reasonable having regard to the size of the Company and nature of its assets. The discrepancies noticed have been properly dealt with in the books of account.

(c) The assets disposed off during the year are not significant and therefore do not affect the going concern assumption.

2. (a) The inventory have been physically verified by the management at reasonable intervals.

(b) In our opinion and according to the information and explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion the Company has maintained proper records of inventory. The discrepancies between the physical stocks and the book stocks are not material and have been properly dealt with in the books of account.

3. (a) During the year, the Company has not granted any loans to companies, firms or other parties covered in the register

maintained under Section 189 of the Companies Act , 2013;

(b) During the year, the Company has not taken any loan 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 provided to us there are adequate internal control procedures, commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control.

5. The Company has not accepted any Deposits from the public.

6. We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules 2014 under Section 148 (1) (d) of the Companies Act, 2013 and are of the opinion that, prima facie, the prescribed accounts and cost records have been maintained. We have however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

7. According to the records, information and explanation provided the Company is generally regular in depositing with appropriate authorities undisputed amount of provident fund, employee state insurance, income tax, sales tax, wealth tax and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at 31st March, 2015 for a period of more than six months from the date they become payable.

8. The Company does not have accumulated losses at the end of the Financial Year and has not incurred cash losses in the Financial Year covered by the audit and in the immediately preceding Financial Year.

9. Based on our audit procedures and on the information and explanations given to us, the Company has not defaulted in repayment of dues to any financial institution or bank.

10. Based on our examination and accordingly to the information and explanations given to us, the Company has not given guarantees for loans and advances taken by others.

11. As informed to us the Company has not raised any term loans.

12. On the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

M/s. Sunil Shah

Chartered Accountants

Sunil Shah

Proprietor Membership No.37483

Place : Pune

Date : 30th May, 2015


Mar 31, 2014

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

Management''s Responsibility for the Financial Statements

The Company''s 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 the Companies Act, 1956 ("the Act")(which continue to be applicable in respect of Section 133 of the Companies Act, 2013 in terms of General Circular 15/2013 dated 13th September of the Ministry of Corporate Affairs) and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error.

Auditors'' 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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and the 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 the internal controls 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, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 31st March, 2014;

b. in the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the 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 purposes of our audit.

b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

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

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards notified under the Act. (which continue to be applicable in respect of Section 133 of the Companies Act, 2013 in terms of General Circular 15/2013 dated 13th September of the Ministry of Corporate Affairs)

e. On the basis of the written representations received from the Directors as on 31st March, 2014 taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of Section 274(1)(g) of the Act.

ANNEXURE TO THE AUDITORS'' REPORT (Referred to in our Report of even date) We report as follows

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The major portion of fixed assets have been physically verified by the management during the year. In our opining the frequency of physical verification of fixed assets by the management is reasonable having regard to the size of the company and nature of its assets. The discrepancies noticed have been properly dealt with in the books of account.

(c) The Assets disposed off during the year are not significant and therefore do not affect the going concern assumption.

2. (a) The inventory have been physically verified by the management at reasonable intervals.

(b) In our opinion, and according to the information & explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the company and the nature of its business.

(c) In our opinion the Company has maintained proper records of inventory. The discrepancies between the Physical stocks and the Book stocks are not material and have properly dealt with in the books of account.

3. (a) During the year, the Company has not granted/ taken any loans to/from parties listed in the register maintained under Section 301 of the Companies Act, 1956;

(b) During the year, the Company has not taken loan from companies firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956;

4. In our opinion and according to the information and explanations provided to us there are adequate internal control procedure, commensurate with the size of the company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control.

5. Based on the audit procedure applied by us and according to the information and explanation provided by the management, we are of the opinion that the transactions that need to be entered into the Register maintained under Section 301 have been properly entered in the said Register;

6. The Company has not accepted any deposits from the public;

7. The Company has a system of internal audit which, in our opinion, is commensurate with its size and nature of its business;

8. The Central Government has not prescribed maintenance of cost records under section 209 (1)

(d) of the Companies Act, 1956 for any of the products of the Company.

9. According to the records, information and explanations provided to us, the Company is Generally regular in depositing with appropriate authorities undisputed amount of provident fund, employees'' state insurance, income-tax ,sales- tax, Wealth Tax and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at 31st March, 2014 for a period of more than six months from the date they became payable;

10. The Company neither has accumulated losses at the end of the financial year nor has incurred Cash losses during the year and in the immediately year preceding;

11. Based on our audit procedure and on the information and explanations given to us the Company has not defaulted in repayment of dues to any financial institution or bank;

12. Based on our examination and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities;

13. The Company is not a chit/ nidhi/mutual benefit fund/society and clause(xiii)of the order is not applicable.

14. The Company is not dealing or trading in shares, securities, debentures and other investment;

15. On the basis of information and explanation given to us the Company has not given any Guarantee for loans taken by others from bank or financial institutions;

16. On the basis of our examination of the books of accounts and the information and explanation given to us. In our opinion, the funds raised on short-term basis have not been used for long term investment and vice versa;

17. During the year, the Company has not made any preferential allotment of shares to parties and Companies covered in the Registered maintained under Section 301 of the Act;

18. The Company did not have any outstanding debentures during the year;

19. The Company has not raised any money by public issued during the year;

20. Based on the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

M/s SUNIL P. SHAH Chartered Accountants

Sunil Shah Proprietor Membership. 37483

Place : Pune Date :31st May, 2014


Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of CHORDIA FOOD PRODUCTS LIMITED ("the Company"), which comprise the Balance Sheet as at 31 March, 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s 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 Section 211(3C) of the Companies Act, 1956 ("the Act") and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error.

Auditors'' 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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and the 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 the internal controls 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, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 31 March, 2013;

b. in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 as amended ("the Order") issued by the Central Government in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the 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 purposes of our audit.

b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

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

d. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211(3C) of the Act.

e. On the basis of the written representations received from the directors as on 31 March, 2013 taken on record by the Board of Directors, none of the directors of the Company is disqualified as on 31st March, 2013 from being appointed as a Director in terms of Section 274(1)(g) of the Act.

We report as follows :-

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The major portion of fixed assets have been physically verified by the management during the year. In our opining the frequency of physical verification of fixed assets by the management is reasonable having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such verification.

(c) The Assets disposed off during the year are not significant and therefore do not affect the going concern assumption.

2. (a) The inventory have been physically verified by the management at reasonable intervals.

(b) In our opinion, and according to the information & explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion the company has maintained proper records of inventory. The discrepancies between the Physical stocks and the book stocks are not material and have properly dealt with in the books of account.

3. (a) During the year, the Company has not granted/ taken any loans to/from parties listed in the register maintained under Section 301 of the Companies Act, 1956.

(b) During the year, the Company has not taken loan from companies firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations provided to us there are adequate internal control procedure, commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods.

During the course of our audit, no major weakness has been noticed in the internal control.

5. a) Based on the audit procedure applied by us and according to the information and explanation provided by the management, we are of the opinion that the transactions that need to be entered into the Register maintained under section 301 have been properly entered in the said Register.

b) In our opinion and according to the information and explanation given to us, the transations made in pursuance of contracts and arrangements referred to in (a) above and exceeding the value of Rupees five lacs in respect of any party during the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. The Company has not accepted any deposits from the public.

7. The Company has a system of internal audit which, in our opinion, is commensurate with its size and nature of its business.

8. We have broadly reviewed the books of Accounts maintained by the Company pursuant to the Rules prescribed by the Central Government for maintainance of cost-records under section 209(1) (d) of the Act and are of the opinion that prima-facie the prescribed accounts & records have been made and maintained. However we have not made a detailed examination of the records.

9. According to the records, information and explanations provided to us, the company is Generally regular in depositing with appropriate authorities undisputed amount of provident fund, employees'' state insurance, income- tax, sales- tax, Wealth Tax and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at 31st March, 2013 for a period of more than six months from the date they became payable.

10. The Company neither has accumulated losses at the end of the financial year nor has incurred Cash losses during the year and in the immediately year preceding;

11. Based on our audit procedure and on the information and explanations given to us the Company has not defaulted in repayment of dues to any financial institution or bank, during the year.

12. Based on our examination and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. The Company is not a chit/ nidhi/mutual benefit fund society and clause(xiii)of the order is not applicable.

14. The Company is not dealing or trading in shares, securities, debentures and other investment.

15. On the basis of information and explanation given to us the Company has not given any Guarantee for loans taken by others from bank or financial institutions.

16. On the basis of our examination of the books of accounts and the information and explanation given to us. In our opinion, the funds raised on short- term basis have not been used for long term investment and vice versa.

17. During the year, the Company has not made any preferential allotment of shares to parties and companies covered in the Registered maintained under Section 301 of the Act.

18. The Company did not have any outstanding debentures during the year.

19. The Company has not raised any money by public issue during the year.

20. Based on the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.



M/s. SUNIL SHAH

Chartered Accountants



Sunil Shah

Place :Pune Proprietor

Date : 30th May, 2013 Membership No. 37483


Mar 31, 2012

1) We have audited the attached Balance Sheet of Chordia Food Products Limited, as on 31st March, 2012 and also the Profit & Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

2) We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

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

4) Further to our comments in the Annexure referred to above we report that:

(a) We have obtained all the information and explanation 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 the law, have been kept by the Company so far as appears from our examination of those books;

(c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement 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 and the Cash Flow Statement dealt with by this Report comply with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act, 1956;

(e) On the basis of the written representation received from all the Directors as on March 31st, 2012 and taken on record by the Board of Directors, we report that none of the said directors are disqualified as on 31st March 2012 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 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 Principle Generally Accepted in India;

(i) In the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2012.

(ii) In the case of the Profit and Loss Account, of the Profit for the year ended on that date.

ANNEXURE TO THE AUDITORS' REPORT

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The major portion of fixed assets have been physically verified by the management during the year. In our opining the frequency of physical verification of fixed assets by the management is reasonable having regard to the size of the company and nature of its assets. The discrepancies noticed have been properly dealt with in the books of account.

(c) The Assets disposed off during the year are not significant and therefore do not affect the going concern assumption.

2. (a) The inventory have been physically verified by the management at reasonable intervals.

(b) In our opinion, and according to the information & explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion, the Company has maintained proper records of inventory. The discrepancies between the physical stocks and the book stocks are not material and have properly dealt within the books of account.

3. (a) During the year, the Company has not granted/ taken any loans to/from parties listed in the Register maintained under Section 301 of the Companies Act, 1956. (b) During the year, the Company has not taken loan from companies firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations provided to us there are adequate internal control procedure, commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control.

5. Based on the audit procedure applied by us and according to the information and explanation provided by the management, we are of the opinion that the transactions that need to be entered into the Register maintained under section 301 have been properly entered in the said Register.

6. The Company has not accepted any deposits from the public.

7. The Company has a system of Internal Audit which, in our opinion, is commensurate with its size and nature of its business.

8. The Central Government has not prescribed maintenance of cost records under section 209 (1)

(d) of the Companies Act, 1956 for any of the products of the Company.

9. According to the records, information and explanations provide to us, the Company is generally regular in depositing with appropriate authorities undisputed amount of Provident Fund, Employee's State Insurance, Income-Tax, Sales-Tax, Wealth-Tax and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at 31st March, 2012 for a period of more than six months from the date they became payable.

10. The Company neither has accumulated losses at the end of the financial year nor has incurred cash losses during the year and in the immediately year preceding.

11. Based on our audit procedure and on the information and explanations given to us the Company has not defaulted in repayment of dues to any Financial Institution or Bank.

12. Based on our examination and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of Pledge of Shares, Debentures and other Securities.

13. The Company is not a chit/ nidhi/mutual benefit fund/ society and clause(xiii)of the order is not applicable.

14. The Company is not dealing or trading in shares, securities, debentures and other investment.

15. On the basis of information and explanation given to us the Company has not given any guarantee for loans taken by others from bank or financiaf institutions.

16. On the basis of our examination of the books of accounts and the information and explanation given to us. In our opinion, the funds raised on short-term basis have not been used for long term investment and vice versa.

17. During the year, the Company has not made any preferential allotment of shares to parties and Companies covered in the Register maintained under Section 301 of the Act.

18. The Company did not have any outstanding debentures during the year.

19. The Company has not raised any money by Public Issue during the year.

20. Based on the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

M/s. SUNIL SHAH

Chartered Accountants

Sunil Shah

Place : Pune Proprietor

Date : 30th May, 2012 Membership No. 37483


Mar 31, 2010

1. We have audited the attached Balance Sheet of Chordia Food Products Limited, as at 31st March, 2010 and also the Profit & Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

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

4. 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 account as required by the law, have been kept by the Company so far as appears from our examination of those books;

(c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

(d) In our opinion the Balance Sheet and Profit & Loss Account and the Cash Flow Statement dealt with by this Report comply with the Accounting Standards referred to in sub- section (3C) of Section 211 of the Companies Act, 1956.

(e) On the basis of the written representation received from all the Directors as on March 31, 2010 and taken on record by the Board of Directors, we report that none of the said Directors are disqualified as on 31st March, 2010 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 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 principle generally accepted in India:

(i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010;

(ii) in the case of the Profit & Loss Account, of the Profit for the year ended on that date.



ANNEXURE TO THE AUDITORS REPORT

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The major portion of fixed assets have been physically verified by the management during the year. In our opinion the frequency of physical verification of fixed assets by the management is reasonable having regard to the size of the Company and nature of its assets. The discrepancies noticed have been properly dealt with in the books of account.

(c) The Assets disposed off during the year are not significant and therefore do not affect the going concern assumption.

2. (a) The inventory have been physically verified by

the management at reasonable intervals.

(b) In our opinion, and according to the information & explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion the Company has maintained proper records of inventory. The discrepancies between the physical stocks and the book stocks are not material and have properly dealt with in the books of account.

3. (a) During the year, the Company has not granted/

taken any loans to/from parties listed in the register maintained under Section 301 of the Companies Act, 1956;

(b) During the year, the Company has not taken loan from companies firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956;

4. In our opinion and according to the information and explanations provided to us there are adequate internal control procedure, commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control.

5. Based on the audit procedure applied by us and according to the information and explanation provided by the management, we are of the opinion that the transactions that need to be entered into the Register maintained under Section 301 have been properly entered in the said Register;

6. The Company has not accepted any deposits from the public;

7. The Company has a system of internal audit which, in our opinion, is commensurate with its size and nature of its business;

8. The Central Government has not prescribed maintenance of Cost records under Section 209 (1)

(d) of the Companies Act, 1956 for any of the products of the Company.

9. According to the records, information and explanations provided to us, the Company is generally regular in depositing with appropriate authorities undisputed amount of provident fund, employees state insurance, income-tax, sales-tax, Wealth Tax and other statutory dues applicable to it and no undisputed amounts payable were outstanding as at 31st March, 2010 for a period of more than six months from the date they became payable;

10. The Company neither has accumulated losses at the end of the financial year nor has incurred cash losses during the year and in the immediately year preceding;

11. Based on our audit procedures and on the information and explanations given to us the Company has not defaulted in repayment of dues to any financial institution or bank;

12. Based on our examination and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities;

13. The Company is not a chit / nidhi / mutual benefit fund / society and clause (xiii) of the order is not applicable.

14. The Company is not dealing or trading in shares, securities, debentures and other investment;

15. On the basis of information and explanation given to us the Company has not given any guarantee for loans taken by others from bank or financial institutions;

16. On the basis of our examination of the books of accounts and the information and explanation given to us, in our opinion, the funds raised on short-term basis have not been used for long term investment and vice versa;

17. During the year, the Company has not made any preferential allotment of shares to parties and companies covered in the Registered maintained under Section 301 of the Act;

18. The Company did not have any outstanding debentures during the year;

19. The Company has not raised any money by public issues during the year;

20. Based on the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.



M/s. SUNIL SHAH

Chartered Accountants



Sunil Shah

Place : Pune Proprietor

Date : 31st May, 2010 Membership No. 37483


Mar 31, 2009

1. We have audited the attached Balance Sheet of Chordia Food Products Limited, as at 31st March, 20Q9 and also the Profit & Loss Account and Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to expresi an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

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

4. 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 account as required by the law, have been kept by the Company so far as appears from our examination of those books;

(c) The Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

(d) In our opinion the Balance Sheet and Profit & Loss Account and the Cash Flow Statement dealt with by this Report comply with the. Accounting Standards referred to in sub- section (3C) of Section 211 of the Companies Act, 1956.

(e) On the basis of the written representation received from all the Directors as on March 31, 2009 and taken on record by the Board of Directors, we report that none of the said Directors are disqualified as on 31st March, 2009 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 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 principle generally accepted in India:

(i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2009;

(ii) in the case of the Profit & Loss Account, of the Profit for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

1. (a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) The major portion of fixed assets have been physically verified by the management during the year. In our opinion the frequency of physical verification of fixed assets by the management is reasonable having regard to the size of the Company and nature of its assets. The discrepancies noticed have been properly dealt with in the books of account. (c) The Assets disposed off during thp year are not significant and therefore do not affect the g||pg concern assumption.

2. (a) The inventory have been physically verified by the management at reasonable intervals.

(b) In our opinion, and according to the information & explanation given to us, the procedure for physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) In our opinion the Company has maintained proper records of inventory. The discrepancies between the physical stocks and the book stocks are not material and have properly dealt with in the books of account.

3. (a) During the year, the Company has not granted/ taken any loans to/from parties listed in the register maintained under Section 301 of the Companies Act, 1956;

(b) During the year, the Company has not taken loan from companies firms or other parties covered in the registered maintained under Section 301 of the Companies Act, 1956;

4. In our opinion and according to the information and explanations provided to us there are adequate internal control procedure, commensurate with the size of the Company and nature of its business with regard to purchase of inventory, fixed assets and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control.

5. Based on the audit procedure applied by us and according to the information and explanation provided by the management, we are of the opinion that the transactions that need to be entered into the register maintained under Section 301 have been properly entered in the said register;

6. The Company has not accepted any deposits from the public;

7. The Company has a system of internal audit which, in our opinion, is commensurate with its size and nature of its business;

8. The Central Government has not prescribed maintenance of Cost records under Section 209 (1) (d) of the Companies Act, 1956 for any of the products of the Company.

9. According to the records, information and explanations provided to us, the Company is generally regular in depositing with appropriate authorities undisputed amount of provident fund, employees state insurance, income-tax, sales-tax, Wealth Tax and other statutory dues applicable to iv and no undisputed amounts payabie were outstanding as at 31st March, 2009 for a period of more than six months from the date they became payable;

10. The Company neither has accumulated losses at the end r f the financial year nor has incurred cash losses during the year and in the immediately year preceding;

11. Based on our audit procedures and on the information and explanations given to us the Company has not defaulted in repayment of dues to any financial institution or bank;

12. Based on our examination and according to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities;

13. The Company is not a chit / nidhi / mutual benefit fund / society and clause xiii of the order is not applicable.

14. The Company is not dealing or trading in shares, securities, debentures and other investment;

15. On the basis of information and explanation given to us the Company has not given any guarantee for loans taken by others from bank or financial institutions;

16. On the basis of our examination of the books of accounts and the information and explanation given to us, in our opinion, the funds raised on short-term basis have not been used for long term investment and vice versa;

17. During the year, the Company has not made any preferential allotment of shares to parties and companies covered in the Registered maintained under Section 301 of the Act;

18. The Company did not have any outstanding debentures during the year;

19. The Company has not raised any money by public issues during the year;

20. Based on the audit procedures performed and information and explanations given to us by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

M/s. SUNIL SHAH Chartered Accountants

Sunil Shah

Place : Pune Proprietor

Date: 27th June, 2009 Membership No. 37483

 
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