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Info Edge India Ltd.

BSE: 532777 | NSE: NAUKRI |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE663F01024 | SECTOR: Miscellaneous

BSE Live

Nov 30, 11:57
5897.20 48.05 (0.82%)
Volume
AVERAGE VOLUME
5-Day
20,606
10-Day
25,230
30-Day
22,251
7,979
  • Prev. Close

    5849.15

  • Open Price

    5848.00

  • Bid Price (Qty.)

    5895.15 (9)

  • Offer Price (Qty.)

    5900.25 (1)

NSE Live

Nov 30, 11:57
5895.15 49.25 (0.84%)
Volume
AVERAGE VOLUME
5-Day
376,354
10-Day
429,280
30-Day
385,042
110,612
  • Prev. Close

    5845.90

  • Open Price

    5855.00

  • Bid Price (Qty.)

    5895.40 (18)

  • Offer Price (Qty.)

    5899.75 (25)

Annual Report

For Year :
2021 2019 2018 2017 2016 2015 2014 2013 2012

Auditor's Report

1. We have audited the accompanying standalone financial statements of Info Edge (India) Limited (the Company), which comprise the Balance Sheet as at March 31, 2016, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management''s responsibility for the Standalone Financial Statements 2. 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 to 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. Auditors'' responsibility 3. Our responsibility is to express an opinion on these standalone financial statements based on our audit. 4. We have taken into account the provisions of the Act and the Rules made thereunder including the accounting standards and matters which are required to be included in the audit report. 5. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards and pronouncements 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. 6. 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 auditors'' 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. 7. 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 8. 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 March 31, 2016, and its profit and its cash flows for the year ended on that date. Report on Other Legal and regulatory requirements 9. As required by ''the Companies (Auditor''s Report) Order, 2016'', issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act (hereinafter referred to as the Order), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure B a statement on the matters specified in paragraphs 3 and 4 of the Order. 10. 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 March 31, 2016 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016 from being appointed as a director in terms of Section 164 (2) of the Act. (f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure A. (g) With respect to the other matters to be included in the Auditors'' Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our knowledge and belief and according to the information and explanations given to us: i The Company does not have any pending litigations as at March 31, 2016 which would impact its financial position. Also refer Note 33. ii. The Company did not have any long-term contracts including derivative contracts as at March 31, 2016. iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company during the year ended March 31, 2016. i. (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation, of fixed assets. (b) The fixed assets are physically verified by the Management according to a phased programme designed to cover all the items over a period of 3 years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the programme, a portion of the fixed assets has been physically verified by the Management during the year and no material discrepancies have been noticed on such verification. (c) The title deeds of immovable properties, as disclosed in Note 9 on fixed assets to the financial statements, are held in the name of the Company. ii. The Company is in the business of rendering services, and consequently, does not hold any inventory. Therefore, the provisions of Clause 3(ii) of the said Order are not applicable to the Company. iii. The Company has granted unsecured loans, to 4 companies covered in the register maintained under Section 189 of the Act. There are no firms /LLPs/ other parties covered in the register maintained under Section 189 of the Act. (a) In respect of the aforesaid loans, the terms and conditions under which such loans were granted are not prejudicial to the Company''s interest. (b) In respect of the aforesaid loans, the schedule of repayment of principal and payment of interest has been stipulated for 1 party, and the party is repaying the principal amounts, as stipulated, and are also regular in payment of interest as applicable. In respect of loans given to the remaining 3 parties, no schedule for repayment of principal and payment of interest has been stipulated by the Company. Therefore, in absence of stipulation of repayment terms we do not make any comment on the regularity of repayment of principal and payment of interest. (c) In respect of the aforesaid loans, there is no amount which is overdue for more than ninety days. iv. In our opinion, and according to the information and explanations given to us, the Company has complied with the provisions of Section 185 and 186 of the Companies Act, 2013 in respect of the loans and investments made, and guarantees and security provided by it. v. The Company has not accepted any deposits from the public within the meaning of Sections 73, 74, 75 and 76 of the Act and the Rules framed there under to the extent notified. vi. The Central Government of India has not specified the maintenance of cost records under sub-section (1) of Section 148 of the Act for any of the products of the Company. vii. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing undisputed statutory dues in respect of income tax and service tax, though there has been a slight delay in a few cases, and is regular in depositing undisputed statutory dues, including provident fund, employees'' state insurance, sales tax, duty of customs , duty of excise, value added tax, cess and other material statutory dues, as applicable, with the appropriate authorities. (b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of sales- tax, duty of customs, duty of excise, value added tax which have not been deposited on account of any dispute. The particulars of dues of income tax, and service tax as at March 31, 2016 which have not been deposited on account of a dispute, are as follows: Name Of Nature Of Dues Amount Under Unpaid the Statue Dispute Amount Finance Business Support Services 27,310,388 21,900,520 Act, 1994 Advertisement Services Finance Wrong availment of Cenvat 1,290,882 1,290,882 Act, 1994 Credit Finance Export of services provided 16,671,871 16,671,871 Act, 1994 to Special Economic Zone (SEZ) Income Tax Depreciation on intangible 3,961,444 - Act, 1961 assets Income Tax Depreciation on intangible 2,270,447 - Act, 1961 assets Income Tax Disallowance under section 10,255,844 13,027,201 Act, 1961 (u/s) 14A Income Tax Depreciation on intangible 6,608,480 Act, 1961 assets Income Tax Disallowance of Employee 3,557,313 3,557,313 Act, 1961 Stock Option Scheme (ESOP) expenses Income Tax Disallowance of ESOP 21,707,080 21,707,080 Act, 1961 expenses, Disallowance u/s 14A Income Tax Disallowance of ESOP 1,817,560 1,817,560 Act, 1961 expenses Disallowance u/s 14A Income Tax Disallowance u/s 14A 14,884,030 14,884,030 Act, 1961 Disallowance of ESOP expenses, Fee paid to Registrar of Companies, Trademark expenses and stale cheques Income Tax Computation made on 182,217 SAR - Act, 1961 presumptive basis Name of the Statue Financial year Forum where the dispute is pending Finance Act, 1994 2003-2012 Custom Excise and Service Tax Appellate Tribunal Finance Act, 1994 April 1, 2010 to Commissioner Service Tax March 31, 2011 Finance Act, 1994 April, 2012 to Commissioner Service Tax March, 2013 Income Tax Act, 1961 2004-2005 CIT(Appeals) Income Tax Act, 1961 2005-2006 CIT(Appeals) Income Tax Act, 1961 2006-2007 High Court* Income Tax Act, 1961 2006-2007 AO / CIT(Appeals) Income Tax Act, 1961 2009-2010 Income Tax Appellate Tribunal * Income Tax Act, 1961 2010-2011 Income Tax Appellate Tribunal Income Tax Act, 1961 2011-2012 CIT(A) Income Tax Act, 1961 2012-2013 CIT(A) Income Tax Act, 1961 2008-13 Deputy Director of the Department of Zakat and Income Tax * intimation received subsequent to March 31, 2016. viii. According to the records of the Company examined by us and the information and explanation given to us, the Company has not defaulted in repayment of loans or borrowings to any financial institution or bank or Government or dues to debenture holders as at the balance sheet date. ix. The Company has not raised any moneys by way of initial public offer and further public offer (including debt instruments). In our opinion, and according to the information and explanations given to us, the moneys raised by way of term loans have been applied for the purposes for which they were obtained. x. 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 by the Company or on the Company by its officers or employees, noticed or reported during the year, nor have we been informed of any such case by the Management. xi. The Company has paid/ provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act. xii. As the Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it, the provisions of Clause 3(xii) of the Order are not applicable to the Company. xiii. The Company has entered into transactions with related parties in compliance with the provisions of Sections 177 and 188 of the Act. The details of such related party transactions have been disclosed in the financial statements as required under Accounting Standard (AS) 18, Related Party Disclosures specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. xiv. The Company has made private placement of shares during the year ended March 31, 2015, in compliance with the requirements of Section 42 of the Act. The amounts raised have been used for the purpose for which funds were raised. xv. The Company has not entered into any non cash transactions with its directors or persons connected with him. Accordingly, the provisions of Clause 3(xv) of the Order are not applicable to the Company. xvi. The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the provisions of Clause 3(xvi) of the Order are not applicable to the Company. For Price Waterhouse & Co Bangalore LLP Firm Registration Number: 007567S/S-200012 Chartered Accountants Abhishek Rara Place : Noida Partner Date : May 25, 2016 Membership Number : 077779