Mar 31, 2014
We have audited the accompanying Financial Statements of Ridhi
Synthetics 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 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 tin
accordance with Accounting Standards referred to in Sec 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 misstatements
whether due to fraud or error
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have conducted our audit in
accordance with Standards on Auditing issued by the Institute of
Chartered Accountants of India. These 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 of
material misstatement.
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 auditors judgement, including
assessment of 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 companies 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 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 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 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
1. As required by the Companies (Auditor''s 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 give in
the Annexure a statement on the matters specified in paragraph 4 and 5
of the said Order to the extent applicable to the Company.
2. As required by section 227(3) of the Act, we report that
a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
b) In our opinion, proper books of accounts 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 & 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 and the Statement of Profit & Loss
comply with the accounting standards referred to in sub-section (3C) of
section 211 of the Act/notified under the Companies Act, 1956 read with
the General Circular 15/2013 dated September 13, 2013 of the Ministry
of Corporate Affairs in respect of Section 133 of the Companies Act,
2013 and Accounting Standard 30, Financial Instruments: Recognition and
Measurement issued by the Institute of Chartered Accountants of India
to the extent it does not contradict any other accounting standard
referred to in sub-section (3C) of Section 211 of the Act;
e) On the basis of the written representations received from the
Directors, as on 31st March, 2014 and 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 clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956.
Annexure To The Independent Auditors'' Report
(Referred to in Paragraph 1 under "Report on Other Legal & Regulatory
Requirements" section of our report of even date)
In our opinion and according to the information and explanations given
to us and on the basis of relevant records and documents produced for
our verification, we report that:
1. In respect of company''s fixed assets:
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
(b) The fixed assets were physically verified during the year by the
Management in accordance with a regular programme of verification
which, in our opinion, provides for physical verification of all the
fixed assets at reasonable intervals. According to the information and
explanation given to us, no material discrepancies were noticed on such
verification.
(c) The fixed assets disposed off during the year, in our opinion, has
not affected the going concern status of the Company.
2. The Company has neither granted nor taken any loans, secured or
unsecured, to/from companies, firm or other parties covered in the
Register maintained under Section 301 of the Companies Act 1956.
3. There are adequate internal control system commensurate with the
size of the Company and the nature of its business. During the course
of our audit, we have not observed any major weakness in such internal
control system.
(a) Transactions which need to be entered into a register maintained in
pursuance of section 301 of the Companies Act, 1956 have been so
entered.
(b) There are no transactions of purchase and sale of goods, materials
and services made in pursuance of contracts or arrangements entered in
the register maintained under section 301 of the Companies Act, 1956
aggregating during the year to Rupees Five Lacs or more in respect of
each party.
4. The Company has not accepted any deposits from the public during the
year.
5. The Company does not have formal internal audit.
6. In respect of statutory dues:
(a) The company has been regular in depositing undisputed dues in
respect of income tax, sales tax, wealth tax, custom duty, excise duty
and cess and other material statutory dues applicable to it with the
appropriate authorities.
(b) There were no undisputed amounts payable in respect of in respect
of income tax, sales tax, wealth tax, custom duty, excise duty and cess
and other material statutory dues in arrears as at March 31, 2014 for a
period of more than six months from the date they became payable.
(c) There are no dues of income tax, sales tax, wealth tax, custom
duty, excise duty and cess, which have not been deposited on account of
any dispute.
7. The Company does not have any accumulated losses at the end of the
year. The Company does not have cash losses during the current year and
immediately preceding financial year.
8. The company has not taken any loan from a bank or financial
institution or borrowed any sum against issue of debentures.
9. The Company has not granted any loans advances on the basis of
security by way of pledge of shares, debentures and other securities.
10. The Company is not a chit fund, nidhi, or a mutual benefit society.
11. In respect of its dealings in shares, securities and other
investments;
(a) The Company has maintained proper records of transactions and
contracts in respect of its dealing in shares, securities, debentures
and other investments.
(b) The aforesaid securities have been held by the Company in its own
name.
12. The Company has not given any guarantee for loans taken by others
from banks and financial institutions during the year.
13. The Company has not availed any term loans during the year.
14. The Company has not made any preferential allotment of shares to
parties or companies covered in the register maintained under section
301 of the Companies Act, 1956.
15. The Company has not issued any debenture.
16. The Company has not raised any money by public issues during the
year.
17. No fraud by the Company and no material fraud on the Company has
been noticed or reported during the year.
For H.H. Bandukwala & Co.
Chartered Accountants
FRN - 100965W
Mumbai. H.H. Bandukwala
Dated: 30-05-2014 Partner
M. No. 016940
Mar 31, 2013
Report on Financial Statements
We have audited the accompanying Financial Statements of Ridhi
Synthetics Limited (the "Company") which comprise the Balance Sheet as
at 31st March 2013, 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 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 tin
accordance with Accounting Standards referred to in Sec 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 misstatements
whether due to fraud or error
Auditor''s Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have conducted our audit in
accordance with Standards on Auditing issued by the Institute of
Chartered Accountants of India. These 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 of
material misstatement.
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 auditors'' judgement, including
assessment of 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 companies 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 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 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, of the loss of the
company for the year ended on that date and
(c) in the case of the Cash Flow Statement, of the cash flows cf 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 of India in terms of
sub-se^ion (4A) of section 227 of the Companies Act, 1956, we give in
the Annexure a statement on the matters specified in paragraph 4 and 5
of the said Order to the extent applicable to the Company.
2. As required by section 227(3) of the Act, we report that
(a) We have obtained all the information and explanations, which to the
best of our knowledge and belief were necessary for the purpose of our
audit.
(b) in our opinion, proper books of accounts as required by law have
been kept by the company so far as it appears from our examination of
thotc books.
(c) The Balance Sheet, the Statement of Profit & 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 & Loss
and the Cash Flow Statement 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 representations received from the
Directors, as on 31st March, 2013 and 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 clause (g) of
sub-section (1) of section 274 of the Companies Act, 1956.
Annexure To The Independent Auditors'' Report
(Referred to in Paragraph 1 under "Report on Other Legal & Regulatory
Requirements" section of our report of even date)
In our opinion and according to the information and explanations given
to us c.d on the basis of relevant records and documents produced for
our verification, we report that:
1. In respect of company''s fixed assets :
(a) The Company has maintained proper records showing full particulars,
including quantitative details and situation of fixed assets.
(b) The fixed assets were physically verified during t! ,o year by the
Management in accordance with a regular programme of verification
which, in our opinion, provides for physical verification of all the
fixed assets at reasonable intervals. According to the information, and
explanation given to us, no material discrepancies were noticed on such
verification.
(c) The fixed assets disposed off during the year, in our opinion, not
affected the going concern status of the Company.
2. The Company has neither granted nor taken any loans, secured or
unsecured, to/from companies, firm or other parties covered in the
Register maintained under Section 301 of the Companies Act 1956.
3. There are adequate internal control system commensurate with the
size of the Company and the nature of its business. During the course
of our audit, we have not observed any major weakness in such internal
control system.
4. (a) Transactions which need to be entered into a register
maintained in pursuance of section 301 of the Companies Act, 1956 have
been so entered.
(b) There are no transactions of purchase and sale of goods, materials
and services made in pursuance of contracts or arrangements entered in
the register maintained under section 301 of the Companies Act, 1956
aggregating during the year to Rupees Five Lacs or more in respect of
each party.
5. The Company has not accepted any deposits from the public during
the year.
6. The Company does not have formal internal audit.
7. In respect of statutory dues :
(a) The company has been regular in depositing undisputed dues in
respect of income tax, sales tax, wealth tax, custom duty, excise duty
and cess and other material statutory dues applicable to it with the
appropriate authorities.
(b) There were no undisputed amounts payable in respect of in respect
of income tax, sales tax, wealth tax, custom duty, excise duty and cess
and other material statutory dues in arrears as at March 31, 2013 for a
period of more than six months from the date they became payable.
(c) There are no dues of income tax, sales tax, wealth tax, custom
duty, excise duty and cess, which have not been deposited on account of
any dispute.
8. The Company does not have any accumulated losses. The Company has
not incurred cash losses during the current financial year and in the
immediately preceding financial year.
9. The company has not taken any loan from a bank or financial
institution or borrowed any sum against issue of debentures.
10. The Company has not granted any loans advances c.n the basis of
security by way of pledge of shares, debentures and other securities.
11. The Company is not a chit fund, nidhi, or a mutual benefit
society.
12. In respect of its dealings in shares, securities and other
investments;
(a) The Company has maintained proper records of transactions and
contracts in respect of its dealing in shares, securities, debentures
and other investment.
(b) The aforesaid securities have been held by the Company in its own
name.
13. The Company has not given any guarantee for loans taken by others
from banks and financial institutions during the year.
14. The Company has not availed any term loans during the year.
15. The Company has neither raised any funds during the year nor made
any preferential allotment of shares to parties or companies covered in
the register maintained under section 301 of the Companies Act, 1956.
it has also not issued any debenture or raised any money by public
issues during the year.
16. No fraud by the Company and no material fraud on the Company has
been noticed or reported during the year.
For H.H. Bandukwala & Co.
Chartered Accountants
ERN-100965W
H.H. Bandukwala
Partner
M. No. 016940
Mar 31, 2012
1. We have audited the attached Balance Sheet of Ridhi Synthetics
Limited as at 31st March 2012 and Profit and Loss Account of the
Company for the year ended on that date which we have signed under
reference to this report. 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 have 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 also
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 (Auditor's 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 paragraph 4 and 5 of the said
Order to the extent applicable to the Company.
4. Further to our comment in the Annexure referred to in Paragraph 3
above, we report that:
(i) 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.
(ii) In our opinion, the company has kept proper books of accounts as
required by law so far as it appears from our examination of those
books.
(iii) The Balance Sheet, Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account.
(iv) In our opinion, the Balance Sheet, Profit and Loss Account and
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 the written representations received from the
Directors, as on 31st March, 2012 and taken on record by the Board of
Directors, we 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 (1) of section 274 of the Companies Act, 1956.
(vi) In our opinion and to the best of our information and according to
the explanations given to us, they said accounts together with the notes
thereon and attached thereto 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 Balance Sheet of the state of affairs of the Company
as at 31st March, 2012 and
(b) in the case of 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.
In our opinion and according to the information and explanations given
to us and on the basis of relevant records and documents produced for
our verification, we report that:
1. (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has, at reasonable intervals, physically verified
fixed assets and no material discrepancies between physical inventories
and book records were noticed.
(c) The Company has not sold / disposed off any significant portion of
fixed assets during the year.
2. The company has neither granted nor taken any loans, secured or
unsecured to / from companies, firms or other parties listed in the
register maintained under section 301 of the Companies Act, 1956.
3. There are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
fixed assets. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal controls.
4. (a) Transactions which needs to be entered into a register
maintained in pursuance of section 301 of the Companies Act, 1956 are
so entered.
(b) There are no transactions of purchase and sale of goods, materials
and services made in pursuance of contracts or arrangements entered in
the register maintained under section 301 of the Companies Act, 1956
aggregating during the year to Rupees Five Lacs or more in respect of
each party.
5. The company has not accepted any deposits from the public during
the year.
6. The Company does not have formal internal audit system.
7. (a) The Company has been generally regular in depositing undisputed
statutory dues including income tax and other statutory dues applicable
to it with the appropriate authorities during the year.
(b) No undisputed amounts payable in respect of income tax, wealth tax
and cess were in arrears, as on 31st March, 2012 for a period of more
than six months from the date they became payable.
(c) There are no dues of income tax, wealth tax and cess, which have
not been deposited on account of any dispute.
8. The Company does not have any accumulated losses at the end of the
year. It has neither incurred cash losses during the current nor in the
immediately preceding financial year.
9. The Company has neither taken any loans from banks or financial
institution nor issued any debentures.
10. No loans or advances have been granted by the Company on the basis
of security by way of pledge of shares, debentures and other
securities.
11 The Company is not a chit fund or a Nidhi I mutual benefit fund /
society. The provisions of clause 4(xiii) of the Companies (Auditor's
Report} Order, 2003 are therefore not applicable to the Company.
12. In respect of its dealings in shares, securities and other
investments;
(a) The Company has maintained proper records of transactions and
contracts in respect of its dealing in shares, securities, debentures
and other investments.
(b) The aforesaid securities have been held by the Company in its own
name.
13. The Company has not given any guarantee for loans taken by others
from banks and financial institutions during the year.
14. The Company has not taken any term loan from the banks and
financial institutions during the year.
15. On an overall examination of the Balance Sheet of the Company,
funds raised on short term basis have not prima facie, been used during
the year for long term investments and vice versa.
16. The Company has not made preferential allotment of shares to
parties and companies covered in the register maintained under section
301 of the Companies Act, 1956.
17. No fraud on or by the Company has been noticed or reported during
the year.
For H.H.Bandukwala & Co.
Chartered Accountants
FRN- 10965W
Mumbai H.H.Bandukwala
Dated: 28-05-2012 Partner
M.No.016940
Mar 31, 2010
1. We have audited the attached Balance Sheet of Ridhi Synthetics
Limited as at 31st March 2010 and Profit and Loss Account of the
Company for the year ended on that date which we have signed under
reference to this report. 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 have 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 also
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 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 paragraph 4 and 5 of the said
Order to the extent applicable to the Company.
4. Further to our comment in the Annexure referred to in Paragraph 3
above, we report that:
(i) 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.
(ii) In our opinion, the company has kept proper books of accounts as
required by law so far as it appears from our examination of those
books.
(iii) The Balance Sheet, Profit and Loss Account and Cash Flow
Statement dealt with by this report are in agreement with the books of
account.
(iv) In our opinion, the Balance Sheet, Profit and Loss Account and
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 the 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 (1) of section 274 of the Companies Act, 1956.
(vi) In our opinion and to the best of our information and according to
the explanations given to us, the said accounts together with the notes
thereon and attached thereto 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 Balance Sheet of the state of affairs of the Company
as at 31st March, 2010 and
(b) in the case of 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 To Auditors Report Annexure referred to in Paragraph 3 of our
report of even date.
In our opinion and according to the information and explanations given
to us and on the basis of relevant records and documents produced for
our verification, we report that:
1. (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has, at reasonable intervals, physically verified
fixed assets and no material discrepancies between physical inventories
and book records were noticed.
(c) The Company has not sold / disposed off any significant portion of
fixed assets during the year.
2. The company has neither granted nor taken any loans, secured or
unsecured to / from companies, firms or other parties listed in the
register maintained under section 301 of the Companies Act, 1956.
3. There are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
fixed assets. During the course of our audit, we have not observed any
continuing failure to correct major weaknesses in internal controls.
4. (a) Transactions which needs to be entered into a register
maintained in pursuance of section 301 of the Companies Act, 1956 are
so entered.
(b) There are no transactions of purchase and sale of goods, materials
and services made in pursuance of contracts or arrangements entered in
the register maintained under section 301 of the Companies Act, 1956
aggregating during the year to Rupees Five Lacs or more in respect of
each party.
5. The company has not accepted any deposits from the public during
the year.
6. The Company does not have formal internal audit system.
7. (a) The Company has been generally regular in depositing undisputed
statutory dues including income tax and other statutory dues applicable
to it with the appropriate authorities during the year.
(b) No undisputed amounts payable in respect of income tax, wealth tax
and cess were in arrears, as on 31st March, 2010 for a period of more
than six months from the date they became payable.
(c) There are no dues of income tax, wealth tax and cess, which have
not been deposited on account of any dispute.
8. The Company does not have any accumulated losses at the end of the
year. The Company has not incurred cash loss during the current year,
but a cash loss of Rs. 9,73,551 was incurred in the immediately
preceding financial year.
9. The Company has neither taken any loans from banks or financial
institution nor issued any debentures.
10. No loans or advances have been granted by the Company on the basis
of security by way of pledge of shares, debentures and other
securities.
For H.H. Bandukwala & Co.
Chartered Accountants
FRN-100965W
H.H. Bandukwala
Partner
M. No.016940
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article