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DJS Stock and Shares | Auditor's Report > Finance - Investments > Auditor's Report from DJS Stock and Shares - BSE: 511636, NSE: N.A
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DJS Stock and Shares

BSE: 511636|ISIN: INE234E01027|SECTOR: Finance - Investments
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DJS Stock and Shares is not listed on NSE
Mar 12
Auditor's Report (DJS Stock and Shares) Year End : Mar '15
 We have audited the accompanying standalone financialstatements of DJS
 Stock and Shares Limited(the Company), which comprises the Balance
 Sheet as at March 31,2015, the Statement of Profit and Loss, the Cash
 Flow Statement for theyear 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) withrespect to
 the preparation of these financial statements that give a true and fair
 view of the financial position, financial performanceand cash flows of
 the Company in accordance with the accounting principles generally
 accepted in India, including the Accounting Standardsspecified under
 Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
 Rules, 2014. This responsibility also includesmaintenance of adequate
 accounting records in accordance with the provisions of the Act for
 safeguarding the assets of the Companyand for preventing and detecting
 frauds and other irregularities; selection and application of
 appropriate accounting policies; makingjudgments and estimates that are
 reasonable and prudent; and design, implementation and maintenance of
 adequate internal financialcontrols, that were operating effectively
 for ensuring the accuracy and completeness of the accounting records,
 relevant to the preparationand presentation of the financial statements
 that give a true and fair view and are free from material misstatement,
 whether due to fraudor error.
 
 Auditors'' 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 includedin
 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 requirethat
 we comply with ethical requirements and plan and perform the audit to
 obtain reasonable assurance about whether the financialstatements 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
 financialstatements, whether due to fraud or error. In making those
 risk assessments, the auditor considers internal financial control
 relevant tothe Company''s preparation of the financial statements that
 give a true and fair view in order to design audit procedures that are
 appropriatein the circumstances, but not for the purpose of expressing
 an opinion on whether the Company has in place an adequate internal
 financialcontrols system over financial reporting and the operating
 effectiveness of such controls.
 
 An audit also includes evaluating theappropriateness 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 onthe financial
 statements.
 
 Opinion
 
 In our opinion and to the best of our information and according to
 theexplanations given to us, the aforesaid financial statements give
 the information requiredby the Act in the manner so required and give a
 true and fair view in conformity with the accounting principles
 generally accepted in Indiaof the state of affairs of the Company asat
 March 31, 2015, and itsProfit and its cash flows for the yearended 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 and on basis of such checks
 of books and records of the company as we considered appropriate and
 according the information and explanations given to us, 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 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 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 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 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.
 
 iii. The provisions relating to transferring any amounts to the
 Investor Education and Protection Fund is not applicable to the Company
 during the year.
 
 DJS STOCK AND SHARES LIMITED ANNEXURE TO THE INDEPENDENT AUDITORS''
 REPORT
 
 (Referred to in Paragraph (1) of our Report of even date)
 
 (i) (a) The Company has maintained proper records showing full
 particularsincluding quantitative details and situation of fixed assets.
 
 (b) As explainedto us, all the fixed assets have been physically
 verified by the management during the period and no material
 discrepancies were noticed on such physical verification.
 
 (ii) The stock of shares and securities is held in dematerialized form
 and therefore physical verification of stock is not required.
 Consequently, the provisions of clauses ii (a) and ii(b) of the order
 are not applicable to the Company.
 
 (iii) According to the information and explanations given to us and on
 the basis of our examination of the books of account, the Company has
 not granted unsecured loansto companies, firms or other parties covered
 in the register maintained under Section 189 of the Companies Act,
 2013. Hence, the provisions of clauses iii (a) and iii (b) of the order
 are not applicable to the Company.
 
 (iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control procedures
 commensurate with the size of the Company and nature of its business
 with regard to purchases of fixed assets and for the sale of services.
 Further, on the basis of our examination of the books and records of
 the Company, and according to the information and explanations given to
 us, we have neither come across, nor have been informed of, any
 continuing failure to correct major weaknesses in the aforesaid
 internal control system.
 
 (v) The Company has not accepted any deposits from the public within
 the meaning of Section 73 and 74 of the Act and the rules framed there
 under to the extent notified.
 
 (vi) As per information & explanation given by the management,
 maintenance of cost records has not been prescribed by the Central
 Government under subsection (1) of section 148 of the Companies Act
 2013.
 
 (vii) (a) According to the records of the company, undisputed statutory
 dues including Provident Fund, Investor Education and Protection Fund,
 Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service
 Tax, Custom Duty, Excise Duty, Cess to the extent applicable and any
 other statutory dues have generally been regularly deposited with the
 appropriate authorities. According to the information and explanations
 given to us there were no outstanding statutory dues as on 31st of
 March, 2015 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 amounts payable in respect of income tax, wealth tax, service tax,
 sales tax, customs duty and excise duty which have not been deposited
 on account of any disputes.
 
 (c) The Company was not required to transfer any amount to Investor
 Education and Protection Fund in accordance with the provisions of the
 Companies Act, 1956 and rules made thereunder.
 
 (viii) The Company does not have any accumulated losses at the end of
 the financial year and it has not incurred cash losses during the
 financial year covered by our audit and in the immediately preceding
 financial year.
 
 (ix) Based on our audit procedures and on the information and
 explanations given by the management, we are of the opinion that, the
 Company has not defaulted in repayment of dues to a financial
 institution, bank or debenture holders.
 
 (x) Based on our audit procedures and on the information and
 explanations given by the management, we are of the opinion that, the
 Company has not given any guarantee for loans taken by others from bank
 or financial institutions.
 
 (xi) In our opinion, and according to the information and explanation
 given to us, the company has not raised any term loansduring the year.
 
 (xii) During the course of our examination of the books and records of
 the Company, carried out in accordance with the generally accepted
 auditing practices in India, and according to the information and
 explanations given to us, we have neither come across any instance of
 material fraud on or by the Company, noticed or reported during the
 year, nor have we been informed of any such case by the Management.
 
                                                Sd/--
 
                                              P. Mahendran
 Place: Mumbai                                Chartered Accountants
 Date: 30-05-2015                             Membership No. : 029194
Source : Dion Global Solutions Limited
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