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Adharshila Capital Services Ltd.

BSE: 539493 | NSE: | Series: | ISIN: INE269F01012 | SECTOR: Banks - Private Sector

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Feb 11, 16:00
12.50 0.00 (0.00%)
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40
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    12.50

  • Open Price

    12.50

  • Bid Price (Qty.)

    12.50 (110)

  • Offer Price (Qty.)

    0.00 (0)

Adharshila Capital Services is not traded on BSE in the last 30 days

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Adharshila Capital Services is not listed on NSE

Annual Report

For Year :
2015 2014

Auditor's Report

We have audited the accompanying financial statements of ADHARSHILA CAPTIAL SERVICES LIMITED which comprise the Balance Sheet as at March 31, 2015, the Profit and Loss Statement and the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information. Management 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 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 maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of 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 standalone financial statements based in 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. 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 in 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 Balance Sheet, of the state of affairs of the Company as at March 31, 2015; b. In the case of Profit and Loss Statement, 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 in terms of section 143(11) 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 obtained all the information and explanations which to the best our knowledge and belief were necessary for the purpose 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 to those book. c. The Balance Sheet, Profit and Loss Statement and 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 referred to in section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 214; 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 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 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 does not have any pending litigations which would impact its financial positions 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 Investor Education and Protection Fund by the Company. 3. Further, as required by ''Non Banking Financial Companies Auditor''s Report (Reserve Bank) Direction, 1988, we further stat that we have submitted a separate report to the Board of Directors of the Company on the matter specified in said directions as under :- a) The company applied for registration as provided in section 451A of the Reserve Bank of India Act, 1934 and has obtained certificate of registration from the Reserve Bank of India. b) The Company is entitled to continue to hold the Certificate of Registration in terms of its asset/ income pattern as on 31st March, 2015. c) The Board of Directors of the company has passed a resolution for non- acceptance of any public deposit. d) The company has not accepted any public deposit during the year under reference. e) The Company has complied with the prudential norms relating to income recognition, accounting standards, assets classification and provisioning of bed and doubtful debts as applicable to it in terms of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007. (Referred to in paragraph (1) of our Report on other Legal and Regulatory requirements section of our report of even date) 1. a. The Company has maintained proper records to show full particulars including quantitative details and situation of its fixed assets. b. The fixed assets of the company have been physically verified during the year by the management at reasonable intervals and no material discrepancies between the book records and the physical inventory have been noticed on such verification. 2. Since the company does not have any inventory information required under para 2(ii) (a) to (c) is not being given. 3. According to the information made available to us, the company has not granted any loan, secured or unsecured to companies, firm or other parties covered in the register maintained under section 189 of the Act, accordingly Para 2(iii)(a) of the Order are not applicable to the Company. 4. In our opinion and according to the information and explanation given to us, there are adequate internal procedures commensurate with the size of the company and nature of its business, for purchase of inventory and fixed assets and for the sale of goods and service. Further on the basis of our examination and according the information and explanations given to us, we have not observed any continuing failure to correct major weaknesses in internal control procedures. 5. On the basis of information and explanations given to us and our scrutiny of company''s records, in our opinion, the company has not accepted any public deposits. 6. To the best of our knowledge and belief and according to information given to us, Central Government has not prescribed the maintenance of cost records under sub-section (1) of section 148 of the Companies Act, 2013 for the products of the Company. 7. (a)According to the information and explanation given to us the company is generally regular in depositing with appropriate authorities the undisputed statutory dues including income-tax, Wealth-tax, Sales-tax, Service Tax Custom Duty, Excise Duty and any other statutory dues applicable to it. Further, there was no arrears of undisputed statutory dues outstanding as at 31st March, 2015 for a period of more than six month from the date they became payable. (b)According to the information and explanations given to us, there are no tax dues of Income Tax, Wealth-tax, Sales-tax, Service tax Custom Duty, Excise Duty, Value added tax or cess which have not been deposited on account of any dispute. 8. The Company does not have accumulated losses. The company has not incurred cash losses during the financial year and in the immediately preceding financial year the company has incurred cash losses of Rs. 3,31,180/-. 9. Based on our examination and according to the information and explanation given us, the company has not borrowed from any financial intuitions, banks or issued any debentures. 10. According to the records of the company and the information and explanations given to us, the company has not given any guarantee for loans taken by other from bank or financial intuitions. 11. In our opinion and on the basis of information and explanations given to us and on overall basis, no term loans have been availed by the Company. 12. To the best of our knowledge and belief and 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 the year ended 31 March, 2015. FOR B.K. KAPUR AND CO., Chartered Accountants, Firm Registration No. 000852C Place : Ghaziabad Date : 27.05.2015 (M.S. KAPUR) F.C.A Partner M.N. 74615