AUDITING

CIA -3

SAGAR ROY
1922061
4 BBA F&A -A
Annexure to the Independent and no material discrepancies
between physical and book
Auditors Report of even date to the
record were noticed on
members of S&R Bank Ltd. on the physical verification
standalone financial statement for
the year ended 31st March, 20X1. iii. The company has granted
unsecured loans to a company
covered in the register
maintained under section 189 of
Based on the audit procedure performed for
the Act; and with respect to the
the purpose of reporting a true and fair view
same:
on the financial statement of the Co and
(a) The principal and interest
taking into consideration the information and
amount are not due for
explanation given to us and the books of
repayments currently.
accounts and other records examined by us in
(b) There is no overdue amount
the normal course of audit, we report that:
in respect of the loan granted
i. (a) The company has maintained to such companies.
proper records showing full
particulars, including quantitative iv. In our opinion, there is an
details and situation of fixed adequate internal control system
assets. commensurate with the size and
(b) The company has a regular the nature of the business for the
program of physical purchase of the inventories and
verification of its fixed assets the fixed assets and for the sale of
under which fixed assets are goods and services. During the
verified in a phased manner course of our audit, no major
over a period of three years weakness has been noticed in the
which in our opinion is internal control system in respect
reasonable having regard to of these areas.
the size of the company and
the nature of its assets. No v. In our opinion, the Company has
material misstatements were complied with all the directives
noticed on such verification. issued by Reserve Bank of India,
the provisions of Section 73 to 76
ii. (a) The company's entire and other relevant provisions of
inventory is kept with third party, the Act, and the companies
for which written confirmation of (Acceptance of Deposits)
been obtain by the management Rule,2014. As applicable, with
as at your year ended. regards to the deposits accepted.
(b) The procedure of physical According to the information and
verification of inventory explanation given to us, no order
followed by the management has been passed by the Company
are reasonable and adequate Law Board or National Company
in relation to the size of the Law Tribunal or Reserve Bank of
company and the nature of its India or any Court or any other
business. Tribunal, in this regard.
(c) The company is maintaining a
proper record of inventory
vi. We have broadly reviewed the relevant provision of the
books of accounts maintained by Companies Act, 1956 (1 of
the Company pursuant to the 1956) and rules made
Rules made by the Central thereunder within the
Government for the maintenance specified time.
of cost records under sub-section
(1) of Section 148 of the Act in
respect of Company’s service and viii. In our opinion, the company’s
are of the opinion that, prima accumulated losses at the end of
facies, the prescribed accounts the year are less than fifty percent
and records have been made and of its net worth. The company has
maintained. However, we have incurred cash losses in the current
not made a detailed examination year and immediately preceding
of the cost records with a view to financial year.
determine whether they are
accurate or complete. ix. The Company has not defaulted in
repayment of dues to any bank or
financial institutions during the
vii. (a) Undisputed statutory dues
year. The Company didn’t have
including provident fund,
any outstanding debentures
employee’s state insurance,
during the year.
income-tax, sales-tax, wealth tax,
service tax, duty of customs, duty
of excise, value added tax, cess
x. In our opinion, the terms and
and other material statuary dues,
conditions on which the Company
as applicable, have generally been
has given guarantee for loans
regularly deposited with the
taken by others from banks or
appropriate authorities, through
financial institutions are not,
their respect thereof were
prima facie, prejudicial to the
outstanding at the year-ended for
interest of the Company.
a period of more than six months
from the date they became
xi. In our opinion, the company has
payable.
applied the term loans for the
purpose for which these loans
(b) There are no dues in respect
were obtained.
of income-tax, sales-tax,
wealth tax, service tax, duty
of custom, duty of excise,
xii. No fraud on or by the Company
value added tax and cess that
has been noticed or reported
have not been deposited with
during the period covered by our
the appropriate authorities on
audit.
account of any dispute.
xiii. In our opinion, the company has
(c) The Company has transferred
applied and complied with all the
the amount required to be
regulations of rhe NIDHI
transferred to the investor
Companies, by maintaining 10%
education and protection
unencumbered termed deposit as
fund in accordance with the
 specified in the NIDHI Rules, 2014
to meet out the liability.

xiv. The Company have allotted

For Chandan Kaushik & Co LLP

Per S.K.Singh
Partner
Membership No: 40011

Place: Noida
Date: 15-04-20X1