| I have conducted audited the accompanying financial statement of M/s
Vogue Textiles Limited " the Company"), which comprise the Balance
Sheet as at 31st March, 2015, , the Statement of profit and loss and
Cash Flow Statement for the year than ended.
Management 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 flow of the Company in
accordance with the Accounting Standards notified under 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 September13,2013 of the Ministry of Corporate Affairs)
.The 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 Responsibility
Our responsibility is to express as opinion on these financial based on
our audit . We conducted our audit in accordance with the Standard on
Auditing issued by the Institute of Chartered Accountants of India.
Those Standards require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether
the financial statement are free form 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 auditor's judgment's including the
assessment of the risk of material misstatement of the financial
statement, whether due to fraud or error. In making those risk
preparation and presentation of the financial statements of the in
order to design audit procedures that are appropriate in the
circumstance , but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control. An 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 a for our audit opinion.
Opinion
In our and to the best of our information and according to the
explanation 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 principals
generally accepted in India:
(i) In case of the Balance Sheet, of the state of affairs of the
Company as at March,31,2015.
(ii) In case of the Statement of Profit and Loss of the profit of the
Company for the year ended on that date;
(iii) In the case of the Cash Flow Statements, of the cash flow of the
Company for the year ended on that date.
Report on Other Legal and Regulatory Requirements.
1. As required by the manufacturing and other companies (Auditor's
Report) Order, 2003 issued by the Company Law Board interims of Section
227 (4) of the Companies Act, 1956, we annex thereto a statement on the
matter specified in paragraph 4 & 5 of the said order.
2. Further to our comments in the Annexure referred to in Paragraph 1
above.
(i) 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;
(ii) In our opinion, proper books of accounts as required by law have
been kept by the company, so far as appear from our examination of the
books;
(iii) The Balance Sheet and Profit and Loss Account dealt with by the
report are in agreement with the books of accounts;
(iv) In our opinion, the Balance Sheet and the Profit and Loss Account
and Cash flow statement comply with the Accounting Standards notified
under the Act, ( Which continue to be applicable in respect of Section
133 of Companies Act,2013 in terms of General Circular15/2013 dated
September,13,2013 of the Ministry of Corporate Affairs.
On the basis of written representation received from the directors, as
on 31st March 2015 and taken on record by the Board of Directors, we
report that none of the directors is disqualified as on 31st March 2015
from being appointed as a director in terms of clause (g) of subsection
(1) of section 274(1) ( of the Companies Act, 1956;
(v) In our opinion and to the best of our information and according to
the explanation given to us, in manner so required and give a true and
fair view in conformity with the accounting principle accepted in
India:
(a) In the case of Balance Sheet, of the state of affair of the company
as at 31st March 2015
(b) In the case of the Profit and Loss account, of the Profit/Loss for
the year ended on that date; and
(c) In the case of the cash flow statement, of the cash flow for the
year ended on that date.
ANNEXURE TO THE AUDITOR S REPORT
(Referred to in Paragraph 1 under the heading of 'Report on Other Legal
and Regulatory Requirements' of our report of even date)
1. (a) The Company has maintained proper records showing full
particulars including quantitative details and situation of its
fixed assets.
(b) As explained to us, these fixed assets have been physically
verified by the management at reasonable intervals; and no material
discrepancies were noticed upon such verification.
2. (a) Physical verification of inventory has been conducted at
reasonable intervals by the management at site.
(b) The Procedures of physical verification of inventory are followed
by the management reasonable and adequate in relation to the size of
the company and the nature of its business.
(c) The company is maintaining proper records of inventory and no
material discrepancies were noticed on physical verification and we
have received written declaration for the same.
3. (a) According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not granted any loans, secured or unsecured, to companies, firms or
other parties listed in the register maintained under Section 189 of the
Companies Act.
(b) Since the company has not granted any loan. So this point is not
applicable on the company.
4. In our opinion and according to the information and explanations
given to us, there is generally an adequate internal control procedure
commensurate with the size of the Company and the nature of its
business with regard to purchase of fixed assets & for sale of goods.
During the course of our audit we have not observed any continuing
failure to correct major weakness in internal control of the Company.
5. The Company has not accepted any deposits from the public covered
under section 73 to 76 and any other relevant provisions of the
Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules
2014.
6. As per information and explanation given by the management,
maintenance of cost records has not been prescribed by the Central
Government under sub-section (1)of section 148 of the Act.
7. (a) According to the records of the Company, undisputed statutory
dues including Provident Fund, Investor Education and Protection Fund,
Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service
Tax, Custom Duty, Excise Duty, cess to the extent applicable and any
other statutory dues have generally been regularly deposited with the
appropriate authorities.
(b) According to the information and explanations given to us there
were no outstanding statutory dues(except Environment and health cess)
as on 31st of March, 2015 for a period of more than six months from the
date they became payable.
(c) According to the information and explanations given to us, there is
no dues payables in respect of income tax, wealth tax, service tax,
sales tax, customs duty, excise duty and cess which have not been
deposited on account of any disputes except the following-
8. According to the information and explanations given to us, the
company has not defaulted in repayment of dues to a financial
institution or bankordebenture holders.
9. According to the information and explanations given to us, the
Company has not given any guarantees for loan taken by others from a
bank or financial institution.
10. Based on our audit procedures and on the information given by the
management, we report that the Company has not raised any term loans
during the year and no long term loan is outstanding.
11. Based on the audit procedures performed and the information and
explanations given to us, we report that no fraud on or by the Company
has been noticed or reported during the year, nor have we been informed
of such case by the management.
For Bahl & Batra
Chartered Accountants
(Registration No. 18250N)
Place: New Delhi (RajeshBahl)
Date: 03th October, 2015 Partner
Membership. No.: 83700
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