sijberia industries ltd Auditors report

INDEPENDENT AUDITORS REPORT

TO THE MEMBERS OF SIJBERIA INDUSTRIES LIMITED

We have audited the accompanying financial statements of SIJBERIA INDUSTRIES LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2014, and 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 is responsible for 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 Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ("the Act") This 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

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 our 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, we consider 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, but not for the purpose of expressing an opinion on the effectiveness of entitys internal control. 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

In our opinion and to the best of our information and according to the explanations given to us, the 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, 2014,

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 the year ended on that date

1. As required by the Companies (Auditors Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by Section 227(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, 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 Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of Section 211 of the Companies Act, 1956,

e) on the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

f) since the Central Government has not issued any notification as to the rate at which the cess is to be paid under Section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

	For K.G GARG & CO.
	Chartered Accountants
37A, Bentinck Street,	Firms Registration No.: 322555E
Kolkata - 700069.	K. G AGARWAL
	Proprietor
Dated, the 5th day of May, 2014.	Membership No.: 011436

Annexure referred to in paragraph 1 of our report of even date to the members of SIJBERIA INDUSTRIES LIMITED on the accounts of the Company for the year ended 31st March, 2014.

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:

1. a) 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 reasonable intervals. No material discrepancies were noticed on such verification;

c) There was no disposal of Fixed Assets during the year.

2. The Company does not have any inventory.

3. The Company has not granted any loans to company, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956.

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, for the purpose of purchase of inventories and fixed assets and payment for sale of goods. During the course of our audit, we have not observed any major weaknesses in internal control systems.

5. In our opinion and according to the information and explanations given to us, the company has not entered into any transactions with the parties mentioned in the register maintained under Section 301 of the Companies Act, 1956.

6. The Company has not accepted any deposits from the public.

7. The Company is not having internal audit system yet proper internal control is fully exercised which appears adequate looking to the size and present nature of the business of the Company.

8. We have been informed that the Central Government has not prescribed maintenance of cost records under Section 209(1 )(d) of the Companies Act, 1956 in respect of the companys activities.

9. a) As informed to us the Provident Fund and Employees State Insurance Act are not presently applicable to the Company. According to the records of the Company, the Company is regular in depositing undisputed statutory dues including Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues, as applicable, with the appropriate authorities;

b) According to the information and explanations given to us and on the basis of our examination of the documents and records, no disputed amounts payable in respect of above dues were in arrears as at 31st March, 2014, for a period of more than six months from the date they became payable.

10. In our opinion the Company does not have any accumulated losses and it has not incurred any cash loss during the financial year covered by our audit.

11. The Company has not taken any loan from any financial institution, bank or debenture holders and there is no outstanding as at the balance sheet date.

12. According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion and according to the information and explanations given to us, the nature of activities of the Company does not attract any special statute applicable to chit fund or a nidhi/mutual benefit fund/society.

14. The Company has not dealt in shares/securities during the year.

15. According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from bank or financial institution.

16. The Company has not obtained any term loan during the year.

17. The Company has not raised any funds during the year.

18. The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under Section 301 of the Companies Act, 1956.

19. The Company has not issued any debentures.

20. The Company has not raised any money by public issue during the year.

21. Based upon the audit procedures applied by us and according to the information and explanations provided by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

	For K. G. GARG & CO.
	Chartered Accountants
37A, Bentinck Street,	Firms Registration No.: 322555E
Kolkata - 700069.	K. G AGARWAL
	Proprietor
Dated, the 5th day of May, 2014.	Membership No.: 011436