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Auditor Report of Trimurthi Drugs & Pharmaceuticals Ltd. Company
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Auditor Report of Trimurthi Drugs & Pharmaceuticals Ltd.

Mar 31, 2015

1. I have audited the accompanying standalone financial statements of TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED ('the Company'), which comprise the balance sheet as at 31st March £015, the statement of profit and loss and the cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section 134{5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these standalone 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 the Companies [Accounts) Rules, 2014. This responsibility also 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; select ion and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant ta 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. My responsibility is to express an opinion on these standalone financial statements based on my audit. I 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.

4. I conducted my 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.

5. 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 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 }n 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 the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

6. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion on the standalone financial statements.

Opinion:

7. In my opinion and to the best of my information and according to the explanations given to me, the aforesaid standalone 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, 2015.

b) In the case of the statement of profit and loss account of the profit for the year ended on that date and

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

8. 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 the paragraph 3 and 4 of the Order, to the extent applicable.

9. As required by Section 143 (3) of the Act, we report that-

(a) I have sought and obtained all the information and explanations which ta the best of our knowledge and belief were necessary for the purposes of our audit.

(b) in my opinion proper books of account as required by [aw 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 Joss and the cash flow statement dealt with by this Report are in agreement with the books of account:

(d) in my opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 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 31 March 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2015 from being appointed as a director in terms of Section 164 (2) of the Act; and

(f) with respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies [Audit and Auditors] Rules, 2014, in my opinion and to the best of my fan or mot ion and according to the explanations given to me.

i. The Company has disclosed the impact of pending litigation on its financial position in its financial statements.

ii. As the company is not having any long term contracts including derivatives contracts the provision on foreseeable losses is not applicable.

iii. The company is not required to transfer any funds to Investor Education and protection fund.

The Annexure referred to m paragraph 8 in our Independent Auditors' Report to the members of the Company on the standalone financial statements for the year ended 31 March 2015, we report that:

(i) The company has maintained proper records showing full particulars Including quantitative details and situation of fixed assets, (b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such verification

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size af the company and nature of the business

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) (a) The Company had not granted secured or unsecured loans to companies, firms, or other parties covered in the register maintained under section 1B9 of the Companies Act, 2013.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal control.

(v) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vi) The central government has not prescribed maintenance of cast records under Section 148(1) of the Companies Act 2013

(vii) (a). The company is regular in depositing with appropriate authorities undisputed statutory dues including Income Tax, Value added Tax, Service Tax & Wealth Tax.

(b) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, Service Tax and cess, which have not been deposited on account of any dispute.

(c) The company is not required to transfer any amount to Investor Education A Protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under,

(viii) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(ix) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(x) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xi) In my opinion, the company has not availed any term loans except availing of car loan.

(xii) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS

FRN006374S



PUCE: HYDERABAD (K.VENKATE5WARA RAO)

DATE:27-05-2013 (PROPRIETOR)

M. NO. 027305


Mar 31, 2014

1. I have audited the accompanying financial statements of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED (the "company") which comprise the Balance Sheet as at 31st March, 2014, the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

2. 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 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

3. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with the Standards on Auditing issued by the Institute of Chartered accounts 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.

4. 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 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, 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.

5. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

6. In my opinion and to the best of my information and according the explanations given to me, 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 account, of the Profit for the year ended on that date and

(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

7. As required by ''the Companies (Auditor''s Report) Order, 2003(the "Order")'' as amended by ''the Companies (Auditor''s Report)(Amendment) Order, 2004'' issued by the Central Government of India in terms of sub-section(4A) of section 227 of the Act(hereinafter referred to as the ''Order''), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to me, I give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

8. As required by Section 227(3) of the Act, I report that:

(a) I have obtained all the information and explanations which to the best of my 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 the Company so far as it appears from my 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 my 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 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 AUDITOR''S REPORT

(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory Requirements'' section of my report of even date),

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

(b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

(c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii)(a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

(b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

(c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

(d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(v) (a). According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b). In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs 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.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix) (a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

(b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2014 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies Auditor''s Report ) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an Overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii)According to the information and explanations given to me, 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.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES CHARTERED ACCOUNTANTS FRN 006374S

K.VENKATESWARA RAO PROPRIETOR M.NO.027305

PLACE : HYDERABAD

DATE : 24.05.2014


Mar 31, 2013

Report on the Financial Statements

1. I have audited the accompanying financial statements of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED (the "company") which comprise the Balance Sheet as at 31st March, 2013, the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

2. 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 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

3. My responsibility is to express an opinion on these financial statements based on my audit. 1 conducted my audit in accordance with the Standards on Auditing issued by the Institute of Chartered accounts 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.

4. 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 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, 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.

5. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

6. In my opinion and to the best of my information and according the given to me, 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, 2013.

(b) in the case of the Statement of Profit and Loss account, of the Profit for the year ended on that date and

(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

7. As required by ''the Companies (Auditor''s Report) Order, 2003(the "Order")'' as amended by ''the Companies (Auditor''s Report) (Amendment) Order, 2004'' issued by the Central Government of India in terms of sub-section(4A) of section 227 of the Act(hereinafter referred to as the ''Order''), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to me, I give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

8. As required by Section 22 7 (3) of the Act, I report that:

a) I have obtained all the information and explanations which to the best of my 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 the Company so far as it appears from my 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 my 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 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013 from being appointed as a director in terms of Section 2 74(1) (g) of the Act.

ANNEXURE TO THE AUDITOR''S REPORT

(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory Requirements'' section of my report of even date),

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

b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

c] During the year, the company has not disposed off any major part of the plant and machinery.

(ii) a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(hi) a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iy) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(y) a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs 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.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) ofthe Companies Act, 1956.

(ix) a] The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2013 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) ofthe Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, the company has made preferential allotment of shares numbering 13,50,000 to parties and companies not covered in the register maintained under section 301 of the Act.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit

For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS FRN 006374S (K.VENKATESWARA RAO) (PROPRIETOR)

M.No. 200/27305

PLACE: HYDERABAD

DATE : 01.08.2013


Mar 31, 2012

1. I have audited the attached balance sheet of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED as at 31st March, 2012, and also the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit.

2. I have conducted my audit in accordance with the accounting standards generally accepted in India. Those standards require that I 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 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. I believe that my audit provides a reasonable basis for my opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditor's Report) (Amendment) Order, 2004 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 and 5 of the said order.

4. Further to my comments in the Annexure referred to above, I report that:

(i) I have obtained all the information and explanations, which to the best of my knowledge and belief were necessary for the purposes of my audit;

(ii)ln my opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii)The balance sheet, the profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account.

(iv)ln my opinion, the balance sheet, the 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;

(v) On the basis of written representations received from the directors, as on 31st March, 2012 and taken on record by the Board of Directors, I report that none of the directors is disqualified as on 31st March, 2012 from being appointed as a director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956.

(vi) In my opinion and to the best of my information and according to the explanations given to me, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give 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, 2012.

(b) in the case of the profit and loss account, of the Profit for the year ended on that date.

(c) In the case of cash flow statement, of the cash flows for the year ended on that date.

ANNEXURE

Referred to in paragraph 3 of my report of even date,

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

b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(v) a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs 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.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and pature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix)a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2012 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report ) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, 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.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES,

Chartered Accountants.

FRN006374S

SD/-

(K.VENKATESWARA RAO),

Place : Hyderabad, Proprietor.

Date : 21st July 2012. M.No. 200/27305


Mar 31, 2010

1. I have audited the attached balance sheet of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED as at 31st March, 2010, and the Profit & Loss A/c for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. My responsibility is to express an opinion on these financial statements based on my audit.

2. I conducted my audit in accordance with the accounting standards generally accepted in India. Those standards require that I 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 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. I believe that my audit provides a reasonable basis for my opinion.

3. As required by the Companies (Auditors Report) Order, 2003 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 and 5 of the said order.

4. Further to my comments in the Annexure referred to above, I report that:

(i) I have obtained all the information and explanations, which to the best of my knowledge and belief were necessary for the purposes of my audit;

(ii) In my opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii) The balance sheet and the profit and loss account dealt with by this report are in agreement with the books of account.

(iv) In my opinion, the balance sheet and the profit and loss account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

(v) On the basis of written representations received from the directors, as on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2010 from being appointed as a director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956.

(vi) In my opinion and to the best of our information and according to the explanations given to me, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give 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, 2010.

(b) In the case of the profit and loss account, of the Profit for the year ended on that date.

ANNEXURE

Referred to in paragraph 3 of my report of even date,

(i) (a) The company has maintained proper records showing full particulars

including quantitative details and situation of fixed assets.

(b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the man agement are reasonable and adequate in relation to size of the company and nature of the business.

(c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) (a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

(b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

(c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

(d) There is no overdue amount of loans granted to companies listed in the register maintaned under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, i have not observed any continuing failure to correct major weakness in internal controls.

(v) (a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs 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.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix) (a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees, as the provisions of the Provident Fund Act and Employees State Insurance Act are not applicable to this company.

(b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2010 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is dealing in and trading in shares, securities, debentures and other investments and accordingly, the company has maintained adequate records to show full particulars of the transactions and contracts entered into in respect of dealing and trading in shares, securities and other investments and the timely entries have been made in such records.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, 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.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.



For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS

PLACE : HYDERABAD K.VENKATESWARA RAO

DATE : 23rd July 2010 PROPRIETOR

M.NO.027305 FRN 006374S

 
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