you are here:

Shri Bajrang Alliance Ltd.

BSE: 526981 | NSE: | Series: NA | ISIN: INE402H01015 | SECTOR: Steel - Rolling

BSE Live

Nov 26, 16:00
239.60 -11.45 (-4.56%)
Volume
AVERAGE VOLUME
5-Day
5,148
10-Day
8,289
30-Day
12,438
4,151
  • Prev. Close

    251.05

  • Open Price

    259.40

  • Bid Price (Qty.)

    240.65 (10)

  • Offer Price (Qty.)

    242.00 (14)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Shri Bajrang Alliance is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the accompanying standalone financial statements of SHRI BAJRANG ALLOYS LIMITED (''the Company''), which comprise the Balance Sheet as at 31st March 2015, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the Standalone Financial Statements The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation and presentation of these standalone 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 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 provisions of the Act for safeguarding 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 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. Auditor''s Responsibility Our responsibility is to express an opinion on these standalone 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 the 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 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 the accounting policies used and the reasonableness of the accounting estimates made by the 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 standalone financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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, of the state of affairs of the Company as at 31st March 2015 and its profit and its 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 Act, we give in the Annexure a statement on the matters specified in the paragraph 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 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 Statement of Profit and Loss 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 31st March 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March 2015 from being appointed as a director in terms of Section 164 (2) of the Act; and (f) with respect to the other matters to be included in the Auditor''s 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 has disclosed the impact of pending litigations on its financial position in its financial statements. ii. the Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts (Note-30), and iii. The Company is not liable to transfer any amounts to the Investor Education and Protection Fund during the year. The Annexure referred to in our Independent Auditors'' Report to the members of the Company on the standalone financial statements for the year ended 31st March 2015, we report that: (i) (a) According to the information and explanations given to us, the Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals, which in our opinion is reasonable looking to the size of the Company and the nature of its business. According to the information and explanation given to us, no material discrepancies were noticed on such verification during the year. (ii) (a) According to the information and explanations given to us, the Company has conducted physical verification of inventory at reasonable intervals during the year. (b) According to the information and explanations given to us, the procedures of physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the Company and the nature of the business. (c) According to the information and explanations given to us, the Company is maintain proper records of inventory and there were no material discrepancies noticed on physical verification. (iii) (a) According to the information and explanations given to us, the Company has granted unsecured loans to one body corporate covered in the register maintained under section 189 of the Companies Act, 2013 (''the Act''). (b) According to the information and explanations given to us, the receipt of the principal amount and interest are regular during the year. (c) According to the information and explanations given to us, 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 189 of the Act. (iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventory and fixed assets and for sale of goods and services. We have not observed any major weakness in the internal control system during the course of the audit. (v) According to the information and explanations given to us, the Company has not accepted any deposits from the public during the year. (vi) The Central Govt. has prescribed maintenance of cost records under section 148(1) of the Companies Act 2013 in respect of manufacturing activities of the Company. We have broadly reviewed the accounts and records of the Company in this connection and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed examination of the same. (vii) (a) According to the information and explanations given to us, and on the basis of our examination of the records of the Company, the Company is regular in depositing the undisputed statutory dues including provident fund, employee''s state insurance, income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities and there is no arrear of outstanding statutory dues at the last day of the financial year concerned for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, there is no disputed amount of statutory dues which have not been deposited with the concerned authorities during the year. (c) According to the information and explanations given to us the Company is not required to remit any amount which is required to be transferred to the Investor Education and Protection Fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules there under during the year. (viii) According to the information and explanations given to us, the Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses in the financial year and in the immediately preceding financial year. (ix) The Company has not defaulted in repayment of dues to financial institutions, banks and payments have been made as per the repayment schedule sanctioned by the financial institutions and banks. (x) According to the information and the explanations given to us, the Company has given Corporate guarantees for loans taken by others from banks or financial institutions; the terms and conditions thereof are not prejudicial to the interest of the Company. (xi) According to the information and explanations given to us, the term loans mainly applied for the purpose for which the same loan have been obtained during the year. (xii) According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit. FOR, R.K. SINGHANIA AND ASSOCIATES CHARTERED ACCOUNTANTS Firm Registration No. 004435C PLACE : RAIPUR DATE : 26.05.2015 Sd/- RAMESH KUMAR SINGHANIA (PARTNER) MEMBERSHIP NO. 041880