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Capri Global Capital
BSE: 531595|NSE: CGCL|ISIN: INE180C01018|SECTOR: Finance - General
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« Mar 14
Auditor's Report (Capri Global Capital) Year End : Mar '15
We have audited the accompanying financial statements of CAPRI GLOBAL
 CAPITAL LIMITED (formerly known as Money Matters Financial Services
 Limited) (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 stated
 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, 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
 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 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 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.
 
 We believe that the audit evidence we have obtained is sufficient and
 appropriate to provide a basis for our audit opinion.
 
 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 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, 2013, we give in
 the Annexure a statement on the matters specified in paragraphs 3 and 4
 of the Order.
 
 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 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 financial statement 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 written representations received from the directors
 as on March 31, 2015, and 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.
 
 f) With respect to the other matters to be included in the Auditor''s
 Report in accordance with the 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, we report
 that:
 
 i) The Company does not have any pending litigations which would impact
 its financial position.
 
 ii) The Company did not have any long term contracts including
 derivative contracts for which there were any material foreseeable
 losses.
 
 iii) There were no amounts which were required to be transferred to the
 Investors Education and Protection Fund by the Company.
 
 ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT
 
 The Annexure referred to in paragraph 1 under the ''Report on Other
 Legal and Regulatory Requirements'' our report to the members of CAPRI
 GLOBAL CAPITAL LIMITED, (''the Company'') for the year ended on March
 31,2015. We report that:-
 
 i. In respect of its fixed assets
 
 (a) The Company has maintained proper records showing full particulars
 including quantitative details and situation of fixed assets.
 
 (b) The Company has a regular programme of physical verification of
 fixed assets which is, in our opinion, reasonable having regard to the
 size of the Company and the nature of its assets. In accordance with
 this programme, certain fixed assets have been physically verified by
 the management during the year and no material discrepancies have been
 noticed on such verification.
 
 ii. In respect of its inventories
 
 (a) The inventory has been physically verified during the year by the
 management. In our opinion, the frequency of verification is
 reasonable.
 
 (b) The procedures of physical verification of inventories followed by
 the management are reasonable and adequate in relation to the size of
 the Company and the nature of its business.
 
 (c) On the basis of our examination of the records of inventory, we are
 of the opinion that the Company is maintaining proper records of
 inventory. There were no material discrepancies noticed on physical
 verification of inventories as compared to the book records.
 
 iii. The Company has not granted any loans, secured or unsecured to
 Companies, firms or other parties covered in the register maintained
 under section 189 of the Companies Act, 2013 and hence provisions of
 paragraph 3(iii) of the aforesaid Order are not applicable to the
 Company.
 
 iv. In our opinion and according to the information and explanations
 given to us, there is adequate internal control system commensurate
 with the size of the
 
 Company and the nature of its business with regard to purchases of
 inventory, fixed assets and with regard to the sale of goods and
 services. During the course of our audit, no major weakness has been
 noticed in the internal controls system. There is no sale of services.
 
 v. In our opinion and according to the information and explanations
 given to us, the Company has not accepted deposits from the public to
 which provisions of Sections 73 to Section 76 or any other relevant
 provisions of the Companies Act, 2013 and the Companies (Acceptance of
 Deposits) Rules, 2014 are applicable. No Order has been passed by the
 Company Law Board or National Company Law Tribunal or Reserve Bank of
 India or any Court or any other Tribunal.
 
 vi. In our opinion and according to the information and explanations
 given to us maintenance of cost records under sub-section (1) of the
 Section 148 of the Companies Act, 2013 has not been prescribed by the
 government.
 
 vii. (a) According to the records of the Company, the
 
 Company is generally regular in depositing with appropriate authorities
 undisputed statutory dues including provident fund, employees'' state
 insurance, income-tax, sales tax, wealth tax, duty of customs, duty of
 excise, value added tax or cess and other statutory dues applicable to
 it.
 
 (b) According to the information and explanations given to us, no
 undisputed amounts payable in respect of provident fund, employees''
 state insurance, income- tax, sales tax, wealth tax, duty of customs,
 duty of excise, value added tax or cess and other statutory dues were
 outstanding, as at 31-03-2015, for a period of more than six months
 from the date they became payable.
 
 (c) According to the records of the Company and information and
 explanations given to us no dues of income tax, sales tax, wealth tax,
 service tax, duty of customs, duty of excise, value added tax or cess
 that have not been deposited on account of any disputes.
 
 (d) No amount is required to be transferred to Investor''s Education and
 Protection Fund in accordance with Section 205C(2) of the Companies
 Act, 1956 (1 of 1956) and Rules made thereunder.
 
 viii. The Company does not have accumulated losses. The Company has not
 incurred any cash losses during the financial year covered by our audit
 and in the immediately preceding financial year.
 
 ix. Based on our audit procedures and according to the information and
 explanations given to us by the management, we are of the opinion that
 the Company has not defaulted in repayment of dues to financial
 institutions and bank.
 
 x. The Company has not given any guarantee for loans taken by others
 from Bank or financial institution, and accordingly requirement of
 Paragraph 3(x) of the aforesaid Order are not applicable to the
 Company.
 
 xi. The Company has not raised term loans during the year.
 
 xii. Based upon the audit procedures performed and information and
 explanations given to us by the management, no fraud on or by the
 Company has been noticed or reported during the year.
 
                                               For and on behalf of 
                                                     KARNAVAT & CO.
                                              Chartered Accountants 
                                              Firm Regn No. 104863W
 
 192, Dr. D. N. Road                                  (Viral Joshi)
 Mumbai - 400001                                            Partner
 Dated: May 09, 2015                          Membership No. 137686
Source : Dion Global Solutions Limited
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