Kohinoor Techno Engineers Ltd Auditor Reports

TO,

THE MEMBERS OF

KOHINOOR TECHNO ENGINEERS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of KOHINOOR TECHNO ENGINEERS LIMITED, which comprise the Balance Sheet as 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.

Managements Responsibility for the Financial Statements

The Companys Board of Direcotrs is responsible for the matters stated in Section 134(5) of the Companies Act 2013(The Act) with respect to preparation of these financial statements that give a true and fair view of the financial position and financial performance and Cash Flow of the Company in accordance with the Accounting Principles generally accepted in India including the Accounting Standards specified under 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibility 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 of the frauds and other irregularities, selection and application of the appropriate accounting policies, making judgments and estimates that are reasonable and prudent, and the design, implementation and maintenance of internal financial, that are operating effectively for ensuring the accuracy and completeness of 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 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.

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 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 financial control relevant to the

Companys 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 controls 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 Companys 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.

Opinion

1. In our opinion and to the best of our knowledge and according to the information and 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 31,2015; and

b) In the case of the Statement of Profit and Loss Account, of the profit for the year ended on that date. And

c) In the case of Cash flow statement, of the cash flows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

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 Profit and Loss Statement, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid standalone 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 the written representations received from the directors as on March 31, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2015, from being appointed as a director in terms of Section 164 (2) of the Act. f) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

(i) The Company did not have pending litigations to disclose the impact of on its financial position in its financial statements.

(ii) The Company did not have any long term contract including derivative contracts for which there were any material foreseeable losses.

(iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

	For, BHARAT & COMPANY
	Chartered Accountants
	Firm Registration No 127777W
	Sd/-
	CA. Bharat H. Gandhi
	(Proprietor)
	M. No. 125227
Surat 30th May 2015

Annexure to the Independent Auditors Report

(Referred to paragraph 1 "Report on other legal and regulatory Requirements section of our Independent Auditors Report " of even date on the standalone financial statements of Kohinoor Techno Engineers Limited ("the Company") for the year ended 31st March 2015)

(1) In respect of Fixed Assets:

(a) The company has maintained proper records to show 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 of the Company have been physically verified by the management in a phased periodical manner which is in our opinion is reasonable having regard to size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

(c) In our opinion, the Company has not disposed off a substantial part of its fixed assets during the year, hence the going concern status of the company is not affected.

(2) In respect of Inventories:

(a) The inventories have been physically verified by the management during the year. In our Opinion the frequency of Verification is reasonable.

(b) In our opinion and according to information and explanation given to us, the procedure of physical verification of inventories followed by the management is reasonable and adequate in relation to size of the company and nature of its business.

(c) The company has maintained proper records of inventories. As informed to us that the discrepancies noticed on physical verification of raw material, stores spares, components other than finished goods and work in progress, on comparison to book records, were not material and would be dealt with the books of account after enquiry and reconciliation. As regards finished goods we are informed that there were no discrepancies as compared to available records.

(3) In respect of Loans, secured or unsecured, granted or taken by the Company to / from Companies, firms or other parties covered in the register maintained under section 189 of the Companies Act 2013

(a) The Company has given interest free unsecured loans to associate company covered in the register maintained under section 189 of the Companies Act, 2013 (‘the Act). The maximum amount outstanding during the year was Rs 4.26 lacs and the year-end balance of such loan amounted to Rs 1.46 lacs. Other than the above, the Company has not granted any loans, secured or unsecured, to companies, firms or parties covered in the register maintained under section 189 of the Act.

(b) In our opinion, the rate of interest and other terms and conditions on which the loans have been granted to the bodies corporate listed in the register maintained under Section 189 of the Act are not, prima facie, prejudicial to the interest of the Company. (c) In the case of the loans granted to the bodies corporate listed in the register maintained under section 189 of the Act, the borrowers have been regular in the payment. The terms of arrangement do not stipulate any repayment schedule and the loans are repayable on demand. Accordingly, paragraph 4(iii)(c) of the Order is not applicable to the Company in respect of repayment of the principal amount. (d) There are no overdue amounts of more than rupees one lakh in respect of the loans granted to the bodies corporate listed in the register maintained under section 301 of the Act.

(e) According to information and explanation given to us, the Company has during the year, not taken any loans, secured or unsecured from Companies, Firms or other parties covered in the register maintained u/s 189 of the Companies Act 2013, Accordingly, paragraphs (4(iii)(e)(f) and (g) of Order, are not applicable.

(4) In our opinion and according to information & explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business for the purchase of inventory and fixed assets and with regards to sale of goods and services. During the year of audit we have not observed any continuing failure to correct major weaknesses in internal controls system.

(5) In our opinion and according to information & explanation given to us, the company has not entered into any transaction exceeding Rs. 5 lacs in respect of any party during the financial year that need to be entered in the register pursuant to section 189 of the Companies act 2013. Consequently, the provision of Clause (v) (b) of Paragraph 4 of Order are not applicable to the Company

(6) The company has not accepted any deposits, consequently, the provision of Clause (vi) of Paragraph 4 of Order are not applicable to the Company.

(7) In our opinion and explained to us, the internal audit functions are carried out by the employees of the company and have been commensurate with its size of the company and nature of its business.

(8) To the best of our knowledge and as explained, the Central Governm

2013, for the products/services of the Company. Accordingly, the provisions of clause 3(vi) of the Order are not applicable to the Company and hence not commented upon

(9) In respect of Statutory Dues:

(a) According to the books and records as produced and examined by us in accordance with the generally accepted auditing practices in India and also based on management representation, undisputed statutory dues including provident fund, investor education protection fund, employees state insurance , income tax, Service tax, sales tax, wealth taxes, custom duty, cess and other material statutory dues have generally been regularly deposited by the company during the year with the appropriate authority in India. According to information & explanation given to us, there are no undisputed amounts payable in respect of Sales Tax, Income Tax, Custom Duty, Wealth Tax, Excise Duty and Cess were in arrears as at 31st March 2015 for a period of more than six months from the date they became payable.

(b) According to information and explanations given to us and records of the Company examined by us, the dues of Income Tax of Rs. 1.00 lacs have not deposited on account of any dispute and the forum where the disputes are pending are as under.

Name of Statute	Nature of Dues	Amount Rs. in lacs	Period to which the amount relates	Forum Where Pending
Income Tax Act 1961	Income Tax	1.00	AY 2012-13	Tribunal

(10) In our opinion, the company has accumulated losses of Rs. 132.84 lacs at the end of the financial year which is not more than fifty percent of its net worth. The company has incurred cash losses during the financial year covered by our audit and has not incurred cash losses during the immediately preceding financial year

(11) Based on our audit procedure and according to information & explanation given to us, the company has not defaulted in repayment of dues to a financial institution, Banks, or debenture holders.

(12) In our opinion and according to information & explanation given 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) Clause (Xiii) is not applicable to the company as the company is not a chit fund, nidhi, mutual benefit fund or a society.

(14) In our opinion and according to information & explanation given to us, the company is not dealing or trading in shares, securities, debentures and other investments. Accordingly the provisions of clause 4(xiv) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

(15) According to information & explanation given to us, the company has not given any guarantee for loan taken by others from bank or financial institution.

(16) In our opinion and according to information & explanation given to us, the company has not availed any term loans during the year.

(17) According to information & explanation given to us and on an overall examination of balance sheet of the company, we report that there is no funds raised on short term basis that have been used for long term investment.

(18) The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 189 of the Act.

(19) The clause is not applicable to the company as it has not issued any debentures.

(20) The clause is not applicable to the company as the Company has not raised the monies by public issue during the year.

(21) According to information & explanation given to us, no material fraud on or by the company has been noticed or reported during the year.

	For, BHARAT & COMPANY
	Chartered Accountants
	Firm Registration No 127777W
	Sd/-
	CA. Bharat H. Gandhi
	(Proprietor)
	M. No. 125227
Surat 30th May 2015