associated marmo granites ltd Auditors report

To the Members of

Associated Marino and Granites Limited

Report on the Financial Statements - We have audited the accompanying financial statements of the ASSOCIATED MARMO AND GRANITES LIMITED, which comprise the Balance Sheet as at 31^s March, 2017 and the Statement of Profit and Loss for the period then ended, and a summary of significant accounting policies and other explanatory information

Managements Responsibility for the Financial Statements- Management is responsible for the preparation of these financial statements that give a true and fair view of financial position, financial performance and cash flow of the company in accordance with the Accounting Standards referred to in 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 judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, 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.

Auditors Responsibility- Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards 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 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 auditors 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 control relevant to the Companys preparation and fair presentation of the financial statements 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 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 financial statements gives 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 31^st March, 2017; (b) in the case of the Profit and Loss Account of the Profit for the period ended on that date; and

Report on Other Le2al and Regulatory Matters- 1. As required by the Companies (Auditors Report) Order, 2016 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we enclose in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the said Order. 2. As required by sec. 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 and Profit and Loss Account, dealt with by this report, are in agreement with the books of accounts, (d) In our opinion, the Balance Sheet, Profit and Loss Account comply with the Accounting Standards referred to in sub-section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules, 2014.

(e) On the basis of the written representation received from the Directors and taken on record by the Board of Directors, none of the Directors is disqualified as on 31st March, 2017 from being appointed as a Director in terms of clause (g) of sub-section (2) of section 164 of the Companies Act, 2013.

	For KUNA WAT & ASSOCIATES.
Place: Pasoond (Raj.)	Chartered Accountants
Date: 29th May, 2017	(C.A. NIRMAL KUNA WAT)
	(Partner)
	M.No.073765

ANNEXURE TO INDEPENDENT AUDITORS REPORT

The Annexure referred to in our Independent Auditors Report of even date to the members of Company on the financial statements for the year ended 31 st March 2017, we report that

(i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets on the basis of available information, (b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets, (c) No material discrepancies were noticed on such physical verification.

(ii) (a) The inventories have been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable, (b) As per the information and explanation given to us, no material discrepancies were noticed on physical verification.

(iii) The company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act 2013.

(iv) As per the information and explanations given to us, provisions of section 85 and 86 of The Companies Act, 2013 in respect of loan, investment, guarantees and security has been complied with.

(v) According to information and explanation given to us, the Company has not accepted any deposit from the public. Therefore, the provisions of Clause (v) of paragraph 3 of CARO 2016 are not applicable to the Company.

(vi) Since overall turnover of the company from all of its sale of goods is not exceeding the ceiling limit of Rs. 35 crore during - the immediately preceding financial year. Hence Company is not required to maintained the cost records. Therefore, the provisions of

Clause (vi) of paragraph 3 of CARO 2016 is not applicable to the Company.

(vii) (a) According to the records of the Company, undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, duty of Customs, Duty of Excise, Value Added Tax, Cess and other material statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31, 2017 for a period of more than six months from the date of becoming payable, (b) According to the information and explanations given to us, there are no material dues of Income Tax, sales tax or wealth tax or service tax or duty of customs or duty of excise or value added tax or cess which have not been deposited with the appropriate authorities on account of any dispute.

(viii) The Company has not issued any Debenture and according to the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to financial institutions, banks.

(ix) The Company has not raised any money by way of initial public offer or further public offer or new term loans during the year. The term loans outstanding at the beginning of the year have been applied for the purposes for which they were raised.

(x) In our opinion and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

(xi) As per the information and explanation given to us, the Company has provided managerial remuneration in accordance with the requisite approvals mandated by the provision of Section 197 read with schedule 5 to the Companies Act, 2013.

(xii) The company is not a Nidhi Company.

(xiii) As per the information and explanation given to us, the Company has disclosed all the details of related party transactions as required by the applicable Accounting Standard.

(xiv) The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

(xv) As per the information and explanation given to us, the Company has not entered into any non-cash transaction with the director or person concerned with him.

(xvi) The Company is not required to be registered under section 45 IA of Reserve Bank of of India Act, 1934.

	For KUNA WAT & ASSOCIATES
	Chartered Accountants
	NIRMAL KUNA WAT
Place: Pasoond	(Partner)
Date: 29th May, 2017	M. No.073765