We have audited the accompanying financial statements of RCC CEMENTS
LIMITED New Delhi (the Company), which comprise the Balance Sheet as
at March 31, 2015 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''s Responsibility for the Financial Statements
The Company''s 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 and financial performance and Cash Flow
Statement 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.
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
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 auditor''s 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 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 is sufficient and
appropriate to provide a basis for our audit opinion on the financial
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 the
year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor''s Report) Order, 2015 (the
Order) Issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Companies Act,2015 we give in
the Annexure a statement on the matters specified in paragraphs 3 and 4
of the Order, to the extent applicable.
2. 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
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
c) The Company does not have any branch offices which are audited under
Section 143(8) of the Act by branch auditors.
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
e) In our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
f) There are no observations or comments on the financial transactions
or matters which may have any adverse effect on the functioning of the
g) On the basis of written representations received from the directors
as on 31 March, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on 31 March, 2015, from being
appointed as a director in terms of Section 164(2) of the Act.
h) With respect to the other matters included in the Auditor''s Report
and to the best of our information and according to the explanations
given to us :
i) As per information furnished to us, the Company does not have any
pending litigations which would impact its financial position.
ii) As per information furnished to us, the Company does not have any
long-term contracts including derivatives contracts for which there
were any material foreseeable losses.
iii). There were no amounts which required to be transferred to the
Investor Education and Protection Fund by the Company.
ANNEXURE TO THE AUDITORS'' REPORT
M/s. RCC CEMENTS LIMITED
Annexure to the Auditors Report of the RCC CEMENTS LIMITED
(In respect of matters specified in paragraphs 3 & 4 of Companies
(Auditor''s Report) Order, 2015)
On the basis of such checks as we considered appropriate and in terms
of the information and explanations given to us, we further state as
1. (a) The company has maintained proper records showing full
particulars including quantitative details and situation of the fixed
(b) All the assets have not been physically verified by the management
during the year but there is a regular programme of verification which,
in our opinion, is reasonable having regard to the size of the company
and the nature of its assets. No material discrepancies were noticed on
(c) During the year, the company has not disposed off any of the fixed
2. (a) The company is not dealing in any goods therefore there is no
(b) As already stated, since the company is not dealing any goods,
there is no question of procedure of physical verification of stock.
(c) As already mentioned, the company is not dealing any goods and
therefore there is no question of proper records of inventory.
3. (a) The company has not granted any loans, secured or unsecured, to
the companies, firms or other parties covered in the register U/s. 189
of the Companies Act, 2013.
(b) As the company has not granted any loans, the question of repayment
does not arise.
4. In our opinion and according to the information and explanations
given to us, there are adequate internal control system commensurate
with the size of the company and the nature of its business, for
purchase of inventory and fixed assets and for the sale of goods and
services. During the course of our audit, we have not observed any
continuing failure to correct major weakness in internal controls.
5. The Company has not accepted any deposits from the public.
Therefore, the directive issued by the Reserve Bank of India and the
provision of section 73 to 76 or any other relevant provisions of the
Companies Act, 2013, and the rules framed there under does not arise.
6. Maintenance of cost records has not been prescribed by the Central
Government U/s. 148(1) of the Companies Act, 2013.
7. (a) As per information and record produced before us, the company
is regular in depositing undisputed statutory dues within in the
prescribed time to the appropriate authorities.
(b) According to the information and explanation given to us, no
undisputed amounts payable on account of income tax, wealth tax,
service tax, sales tax, custom duty, excise duty and education cess as
at 31.03.2015 for a period of more than six months from the date they
(c) In our Opinion, there is no amount required to be transferred to
investor education and protection fund in accordance with the relevant
provisions of the companies Act, 1956 (1of 1956) and rules made there
under has been transferred to such fund within time
8. The accumulated losses if any, of the company as at the end of the
financial year are less than 50% of its net worth.
9. According to the information and explanations given to us, the
company has not taken any loan from any financial institution or bank.
Therefore question of repayment of dues does not arise.
10. As per information furnished to us, the company has not given any
guarantee for loans taken by others from bank or financial institution.
11. The company has not raised any term loan during the period.
12. According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For M/s. RMA & Associates
Firm Regn. No. 000978N
Place : New Delhi Pankaj Chander
Dated : 29th May, 2015 Partner
M. No. 89065