| We have audited the accompanying financial statements of Dhanvantri
Jeevan Rekha Limited ("the Company"), which comprise the Balance Sheet
of Dhanvantri Jeevan Rekha Ljd. ("the Company") a$ at March 31,2015,
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.
2. Management's Responsibility for the Financial Statements
The Compass Board of Directors is responsible for the matters in
section 134(5) of the Companies Act, 2013 ("the Act") with respect to
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 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 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.
3. 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 the 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 corrtpiy 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 judgment, including the assessment of
the risks of material mis-statement 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. 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 sufficient and
appropriate to provide a basis for our audit opinion on the financial
statements.
4. 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:
a) in the case of the Balance Sheet of the state of affairs of the
Company as at March 31,2015;
b) in the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) in the case of the Cash Flow Statement, of the cash flows for th¯ ¯¯
nitwit in that raft
5. Report on Other Legal ft Regulatory Requirements As/enquired 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 appears from our examination of those
books [and proper returns adequate for the purposes of our audit have
been received from the branches not
d) 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.
e) in our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, rea4
Rule 7 of the Companies (Accounts) Rules. 2014.
f) On the basis of written representations received from the directors
as on 31 March 2015 by the Board of Directors, none
of the directors is disqualified as on 31 March, 2015, from being
of Section 164(2] of the Act.
g) With respect to the other matters included in the Auditor's Report
and to our best of our informative and according to the explanations
given to us:
i. The Company does not have any pending litigations which would 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, to
the Investor Education and Protection Fund by the Company.
ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT
The Annexure referred to In paragraph 5 of the auditor's report to the
members of DHANVANTRIJEEVAN REKHA LIMITED for the year ended March 31,
2015. We report that.
i. (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) All fixed assets have been physically verified by the management
during the year. In our opinion, the frequency of physical"
verification is reasonable having regard to the size of the Company and
the nature of its assets. No material discrepancies were noticed on
such verification.
ii. The management has conducted physical verification of inventory at
reasonable intervals. The procedures of physical verification of
inventory followed by the management are reasonable and adequate in
relation to the size of the Company and the nature of Its business. The
Company is maintaining proper records of inventory and no material
discrepancies were noticed on physical verification.
iii. (a) According to the information and explanations given to us and
on the basis of examination of the Books of Accounts, the Company has
not granted/taken any loans, secured or unsecured to/from Companies,
firms or other parties covered in the register motorized U/s 189 of The
Companies Act 2013.
(b) Since, there are no such loans, the comments regarding terms and
conditions for repayment of the principal amount and Merest thereon,
overdue amount are not required.
iv. In our opinion and according to the information and explanations
given to us, there Is an adequate internal control system commensurate
with the size of Une Company and the nature of its business, for
purchase of inventory and fixed assets and for sale of goods and
services. Accordingly, the issue of continuing failure to correct major
weakness In the Internal control in these areas does not arise.
v. The Company has not accepted deposits from public during the year
under audit and tiered Is no outstanding deposit from Public as at
31.03.2015, hence, provisions of sec 73 to 76 of The Companies Act,
2013 or any other relevant provisions of the Companies Act and the
rules framed there under, are not applicable.
vi. To the best of our knowledge and as explained, the Central
Government has not prescribed maintenance of cost records under sub-
section (1) of section 148 of the Companies Art, 2013 for the services
presided by the Company.
vii. According to the Information and explanation given to us, in
respect of statutory dues including Provident Fund dues. Employees'
State Insurance, income Tax, Sales Tax, Service Tax, Custwn Duty, Exc_
Duty, ce_ to the extent applicable and dues have gerterefy been
regularly deposits wim the appropriate attic us there were no
outstanding disputed statutory dues as on 31X3.2015 for a period of
more than six months from the date they became payable.
According to the information, explanation given to us and verification
done during the course of audit, there is no balance in unclaimed
dividend account outstanding for more than the period prescribed under
The Companies Act, 19S6 and rules made there- under.
viii). The Company does not have accumulated losses at the end of the
financial year and it has not incurred cash losses during the financial
year covered by our audit and the immediately preceding financial year.
ix). Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to Banks and Financial
Institutions. We have been informed that the company did not have any
outstanding debentures during the year.
x). According to the information and explanations given to us and
based on the documents and records produced to us, the Company has not.
given any guarantee of the loans taken by others from Bank or financial
institutions, the terms and conditions whereof are prejudicial to the
interest of the Company.
xi). According to the information and explanation given to us, term
loans were applied for the purpose for which the loans were obtained.
xii. Based upon the audit procedures performed by us for expressing
our opinion on these financial statements and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the year, nor we have
been informed of such case by the management.
For K.K. Jain & Co.
Chartered Accountants
Sd/-
(Simrni Jain)
F.C.A.
Firm Regn No. 002465N
Membership No. 086496
Place: Meerut
Date: 28.05.2015
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