| We have audited the accompanying financial statements of M/s.
BRAHMANAND HIMGHAR LIMITED which comprise the Balance Sheet as at 31st
March, 2015 the Statement of Profit and Loss and Cash Flow Statement
for the year then ended, and a summary of significant accounting
policies and other explanatory information.
Management's Responsibility for the Financial Statements
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 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 principles generally accepted in India, including 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; selection
and application of appropriate accounting policies; making judgements
and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial control,
that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial
statements based on our audit. We have taken into account the
provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the
provisions of the Act and Rules made there under.
We conducted our audit in accordance with the Standards on Auditing
specified under section 143(10) of the Act. Those Standards require
that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgement, including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's
preparation of the financial statements that give a true and fair view
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on
whether the Company has in place an adequate internal financial control
system over financial reporting and the operating effectiveness of such
controls. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting
estimates made by the Company's Directors, 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 on the financial
statements..
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, of the state of affairs of the Company as
at 31st March,2015 and its profit and its cash flows for the year ended
on that date.
Report on other Legal and Regulatory Requirements
1. 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 Annexure a
statement on the matters specified in the paragraph 3 and 4 of the
Order, to the extent applicable.
2. The company is registered with Reserve Bank of India as Non Banking
Finance Company Vide Registration No -B-05.02695 dt 09.08.2001.
Additional Particulars as required by Reserve Bank of India under Non-
Systematically Important Non-Banking Financial ( Non-Deposit Accepting
or Holding) Companies Prudential Norms (Reserve Bank) Directions,2015
are attached, under separate Annexure -I
3. As required by Section 143 (3) of the Act, we report that :
a. We have obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purpose of our
audit;
b. In our opinion proper books of account as required by law have been
kept by the company so far as appears from our examination of those
books.
c. The Balance Sheet, the Statement of Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement with the books of
account;
d. In our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under section 133 of the Act, read with
Rule 7 of the Companies(Accounts) Rules, 2014;
e. On the basis of written representations received from the directors
as on 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, 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 our opinion and to the best of our knowledge and belief
and according to the information and explanations given to us. :
i) The Company has no pending litigations on its financial position as
at 31st March,2015 .
ii) The Company has no material foreseable losses on long term
contracts including derivative contracts as on 31st March,2015.
iii) There has been no amount required to be transferred to the
investor Education and Protection fund by the Company during the year
ended 31st March, 2015.
Re. : BRAHMANAND HIMGHAR LIMITED(31.03.2015)
Annexure referred to in our Independent Auditors' Report to the members
of the Company on the standalone financial statements for the year
ended 31 March, 2015,
i) a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) The fixed assets are physically verified by the Management at
reasonable intervals during the year and no material discrepancies have
been noticed on such verification.
ii) The company does not have any inventory. Hence the provisions of
paragraph 4(ii)(a) to 4(ii)(c) of the order are not applicable.
iii) The Company has not granted any secured / unsecured loans to firms
or other parties covered in the register maintained under section 189
of the Act. Hence the provisions of paragraph 4(iii)(a) to 4(iii)(b) of
the order are not applicable.
iv) In our opinion and according to the information and explanation
given to us, there are adequate internal control system, commensurate
with the size of the company and the nature of its business for the
purchase of inventory and fixed assets and for the sale of
shares/securities and services. Further, on the basis of our
examination of the books and records of the Company, and according to
the information and explanations given to us, we have neither come
across, nor have been informed of, any continuing failure to correct
major weaknesses in the aforesaid internal control system.
v) The Company has not accepted any deposits from the public within the
meaning of sections 73 and 74 of the Act and the rules framed there
under to the extent notified.
vi) In our opinion and according to the information and explanation
given to us, the activities carried out by the Company do not require
maintenance of any cost records.
vii) a) According to the information and explanations given to us and
the records of the Company examined by us, in our opinion, the Company
is regular in depositing the undisputed statutory dues like Income tax,
Provident Fund and other material statutory dues, as applicable, with
the appropriate authorities.
b) In our opinion, and according to information & explanation given to
us, there are no disputed statutory dues, which have not been deposited
on account of any deposit.
viii) The Company has no accumulated losses as at the end of the
financial year and it has not incurred any cash losses in the financial
year ended on that date or in the immediately preceding financial year.
ix) According to the records of the Company examined by us and the
information and explanation given to us, the Company has not defaulted
in repayment of dues to any financial institution or bank or debenture
holders as at the balance sheet date.
x) In our opinion, and according to the information and explanations
given to us, the terms and conditions of the guarantees given by the
Company for loans taken by others from banks or financial institutions
during the year are not prejudicial or the interest of the Company.
xi) In our opinion and as per explanations given to us , the term loan
taken by the company were applied for the purpose for which the loan
was taken.
xii) During the course of our examination of the books and records of
the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and
explanations given to us, we have neither come across any instance of
material fraud on or by the Company, noticed or reported during the
year, nor have we been informed of any such case by the Management.
For KHANDELWAL PRAJAPATI & CO.
Chartered Accountants,
Firm Registration No. 313154E
PLACE : KOLKATA (SAMIR KUMAR POLAI)
DATED : 30/05/2015 Partner
Membership No. - 303724 | 