Moneycontrol Be a Pro
Get App
SENSEX NIFTY
Classic Global Finance and Capital | Auditor's Report > Finance - General > Auditor's Report from Classic Global Finance and Capital - BSE: 538433, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > FINANCE - GENERAL > AUDITORS REPORT - Classic Global Finance and Capital

Classic Global Finance and Capital

BSE: 538433|ISIN: INE854P01028|SECTOR: Finance - General
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Dec 09, 16:00
0.19
-0.01 (-5%)
VOLUME 28
Classic Global Finance and Capital is not listed on NSE
Mar 14
Auditor's Report (Classic Global Finance and Capital) Year End : Mar '15
 We have audited the accompanying financial statements of CLASSIC GLOBAL
 FINANCE & CAPITAL LTD (CIN: L65921PB1995PLC015573) (the
 company),which comprise the Balance Sheet as at 31 March 2015, the
 Statement of Profit and Loss, 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 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, 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 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.
 
 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 there under.
 
 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
 statements.
 
 Opinion
 
 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, 2013, 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 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) Company does not have any branch office accordingly reports on the
 accounts of the branch offices of the Company audited under Section
 143(8) of the Act are not applicable.
 
 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
 account.
 
 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) 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.
 
 Annexure to the Auditors'' Report
 
 Companies (Auditor''s Report) Order, 2015 (the Order)
 
 The Annexure referred to in our report to the members of CLASSIC GLOBAL
 FINANCE & CAPITAL LTD for the year Ended on 31st March 2015. We report
 that:
 
 1.  (a) Company is maintaining proper records showing full particulars,
 including quantitative details and situation of fixed assets;
 
 (b) As explained to us, the management has physically verified the
 fixed assets during the year and there is a regular programme of
 verification which, in our opinion, is reasonable having regards to the
 size of the company and the nature of the assets. No discrepancies were
 noticed on such verification.
 
 2.  (a) Company does not have any inventory at the end of the year.
 
 (b) In view of our comment in paragraph (a) above, clause (ii) (a) (b)
 and (c) of paragraph 2 of the aforesaid order are not applicable to the
 company.
 
 3.  (a) 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.
 
 (b) in view of our comment in paragraph (a) above, clause (iii) (a) and
 (b) of paragraph 3 of the aforesaid 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 control systems commensurate
 with the size of the company and the nature of its business, for the
 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 control
 system.
 
 5.  Company has not accepted deposits from public. Hence provisions of
 sections 73 to 76 or any other relevant provisions of the Companies Act
 and the rules framed there under, do not apply to this company.
 
 6.  The Central Government has not prescribed the maintenance of cost
 records under sub-section (1) of section 148 of the Companies Act for
 any of the products manufactured/services rendered by the Company.
 
 7.  (a) According to the information and explanations given to us and
 on the basis of our examination of the records of the Company, amounts
 deducted/accrued in the books of account in respect of undisputed
 statutory dues have been regularly deposited during the year by the
 Company with the appropriate authorities. As explained to us, the
 Company did not have any dues on account of Wealth tax, Sales tax,
 Excise Duty, Cess, Employees'' State Insurance and Investor Education
 and Protection Fund.
 
 (b) According to the information and explanations given to us, no
 undisputed amounts payable in respect of Income Tax and other material
 statutory dues were in arrears as at 31 March 2015 for a period of more
 than six months from the date they became payable.
 
 (c) According to the records of the Company, there were no amounts
 which were required to be transferred to investor education and
 protection fund. Therefore, the provision of clause 3 (viii) (c) of the
 Companies (Auditor''s Report) Order, 2015 are not applicable to the
 Company.
 
 8.  The company has accumulated losses at the end of the financial year
 and which is less than fifty per cent of its net worth. The company has
 not incurred cash losses in such financial year and in the immediately
 preceding financial year.
 
 9.  In our opinion and according to the information and explanation
 given to us, the company has not take any loan from financial
 institution and bank hence clause 9 of the CARO 2015 is not applicable.
 
 10. The Company has not given any guarantee for the loans taken by
 others from bank & financial Institutions.
 
 11. In Our Opinion and according to the information and explanations
 given to us, company does not have any term loans.
 
 12. Based upon the audit procedures performed and according to the
 information and explanations given to us, we report that no fraud on or
 by the Company has been noticed or reported during the year.
 
 M/s Sanjay Chirania & Associates
 Chartered Accountants
 
 Sd/-
 
 CA. Ruchi Lakhotia
 Partner
 M No.302232 FRN:325710E
 
 Place: Kolkata
 Date: 30.05.2015
 
Source : Dion Global Solutions Limited
Quick Links for classicglobalfinancecapital
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.