1 We have audited the accompanying financial statements of BRONZE
INFRA-TECH LIMITED ("the company"),which comprise the Balance Sheet as
at 31 March 2015, the Statement of Profit and Loss, the Cash Flow
Statement for the year then ended, and a summary of significant
accounting policies and other e xplanatory i n formation.
Management's Responsibility for the Financial Statements
2. The Company's Board of Directors is responsible for the matters
stated in section 1.14(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 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 the maintenance of adequate accounting records in
accordance with the provision of the Act for safeguarding of the assets
of the Company and for preventing and detecting the frauds and other
irregularities; selection and application of appropriate accounting
policies; making judgments 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
3 Our responsibility is to express art 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 the Rules made thereunder.
4. 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
5. 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 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 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
controls system over financial reporting and 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 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
6. 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. SI*1 March2Q15, its profit and its cash flows for the year ended on
that date.
Report on other Legal and Regulatory Requirements
7. 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 paragraphs 3 and 4 of the Order,
to the extent applicable.
8. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations
which to the best of our knowledge and belief were necessary for the
purposes of our audit.
b) In our opinion proper books of account as required by law have been
kept by the Company so far as it appears from our examination of those
books.
c) the Balance Sheet, the Statement of Profit and Loss, and 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 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
f) in our opinion and to the best of our information and according to
the explanations given to us, we report as under with respect to other
matters to be included in the Auditor's Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014:
i. The Company does not have any pending litigations which would
materially impact its financial position.
ii. The Company did not have any long-term contracts including
derivatives contracts for which there were any material foreseeable
losses]
iii. There were no amounts which were required to be transferred by the
Company to the Investor Education and Protection Fund.
Annexure referred to in paragraph 7 Our Report of even date to the
members of BRONZE INFRA- TEGH LIMITED on the accounts of the company
for the year ended 31st March, 2015
On the basis of such checks as we considered appropriate and according
to the information and explanations given to us during the course of
our audit, we report that:
i. fa) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets;
(b) As explained to us, fixed assets have been physically verified by
the management at regular intervals; as informed to us ik) material
discrepancies were noticed on such verification;
ii. The nature of business of the Company does not require it to have
any inventory. Hence, the requirement of clause (ii) of paragraph 3 of
the said Order is not applicable to the Company,
iii. The company has not granted any loans, secured or unsecured
to/frora companies, firms or other parties covered in the register
maintained under section 189 of the Act.
iv. In our opinion and according to the information and explanations
given to us, there is adequate internal control system commensurate
with the size of the Company and the nature of its business, for the
purchase of fixed assets and for the sale of services. Further, on the
basts of our examination of the books and records of the Company and
according to the information and explanations given to us, no major
weakness has not been noticed or reported,
V, As informed to us, the Company has not accepted any deposits from
the public covered under Section 73 to 76 of the Companies Act, 2013.
vi. As informed to us, the Central Government has not prescribed
maintenance of cost records under sub-section (!) of Section 148 of the
Act.,
vi7. (a) According to the information and explanations given to m and
based on the records of the company examined by us, the company is
regular in depositing the undisputed statutory dues, including
Provident Fund, . Employees' State Insurance, Income-tax, Sals-tax,
Wealth Tax, Custom Duty, Excise Duty and other material statutory dues,
as applicable, with the appropriate authorities in India except for R$.
5961905,00 {Rupees fifty nine lacs sixty one thousand nine hundred five
only) on account of service Tax which has been outstanding for a period
exceeding six months.:
(b) According to die information and explanations given to us and based
on the records of the company examined by us, there are no dues of
Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise
Duty which have not been deposited on account of any disputes.
(c) There has not been an occasion in case of the Company during the
year under report to transfer any sums to the Investor Education and
Protection Fund, The question of reporting delay in transferring such
sums does not arise.
vtii. The company has no accumulated losses as on 31s* March, 2015 and
neither has incurred any cash losses during the financial year ending
3114 March, 2015,
ix. According to the records of the company examined by us and as per
the information and explanations given to us, the company has not
availed of any loans from any financial institution or banks ami has
not issued debentures.
x. In our opinion, and according to the information and explanaiions
given to us, the Company has not given any guarantee for loan taken by
others from a bank or financial institution during the year,
xi. In our opinion, and according to the information and explanations
given to us, the company has not raised any term loans during the year.
xii. During the course of our examination of the books and records of
the company, carried in accordance with the auditing standards
generally accepted in India, we have neither come across any instance
of fraud on or by the Company noticed or reported during the course of
our audit nor have we been informed of any Mich instance by the
Management.
For Surana Singh Rathi And Co.
Chartered Accountants
Firm Registration No. :317119E
Renu Surana
Partner
Membership No,: 061788
Place: Kolkaia
Date: 3 May 2015
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