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Nihar Info Global Ltd.

BSE: 531083 | NSE: | Series: NA | ISIN: INE876E01033 | SECTOR: Computers - Software Medium & Small

BSE Live

Jan 15, 15:33
4.78 0.22 (4.82%)
Volume
AVERAGE VOLUME
5-Day
1,335
10-Day
3,233
30-Day
2,902
2,194
  • Prev. Close

    4.56

  • Open Price

    4.78

  • Bid Price (Qty.)

    4.75 (750)

  • Offer Price (Qty.)

    4.78 (745)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
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Nihar Info Global is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

We have audited the accompanying financial statements of M/s. NIHAR INFO GLOBAL 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 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 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 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 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 31st March, 2015; (b) In the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date; and (c) In the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. Emphasis of Matter (a) We draw your attention to Note 1.8 with respect to Investments have not been confirmed by the parties. (b) Due to un availability of Confirmation from debtors, advances and creditors , we are unable to draw conclusion on those balances Report on Other Legal and Regulatory Requirements 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) Based on the Written Representation received from the directors as on 31st March 2015, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March,2015 from being appointed as a director in terms of Sub-section 2 of Section 164 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: (g) The Company has disclosed the impact of pending litigations on its financial position in its financial statements Refer clause No.vii(b) of CARO,2015 and note no.2.37 to the financial statements; Annexure to Independent Auditors'' report (Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' section of our report of even date of M/s .NIHAR INFO GLOBAL LIMITED for the year ended March 31, 2015). i. In respect of fixed assets (a) The company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; (b) As explained to us, all the fixed assets have been physically verified by the Management during the year. No material discrepancies were noticed on such verification. ii. In respect of its inventories: The company does not have any inventory. iii. In respect of loans: As informed to us, during the year the company has granted unsecured Interest free loans to one company covered in the register maintained under section 189 of the Companies Act. The receipt of the principal amount is not due as on 31st ,March 2015. iv. In our opinion and according to the information and explanations 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, fixed assets and for the sale of goods & services. v. The company has not accepted any deposits, and hence clause (v) of Companies (Auditor''s Report) Order, 2015 is not applicable. vi. Section 148(1) of the Companies Act, 2013 is not applicable as company has no manufacturing activity. vii. a) According to the information and explanations given to us and the records produced and examined by us, in our opinion, the company is not regular in depositing undisputed statutory dues consisting of service tax, VAT,TDS ,ESI and Professional Tax; while the undisputed statutory dues under PF are paid however with delay. As explained to us, the company did not have any dues on account of Excise duty, Wealth tax and Investor Education and Protection Fund. According to the information and explanations given to us, there are undisputed amounts payable in respect of , Income-tax, Service tax, VAT and TDS which are in arrears as at 31 March 2015 for a period more than six months from the date they became payable. Name of the statute Nature of the dues Amount(Rs.) Period to which the amount relates Andhra Pradesh Value Added Tax Act, 2005 Value Added Tax 6,511 2014-15 Finance Act, 1994 Service Tax 5,97,118 2014-15 & 2013-14 Income Tax Act, 1961 TDS 73,305 2014-15 & 2013-14 b) According to the information and explanations given to us, there are no dues of Income-tax, Service tax and Customs duty which have not been deposited with the appropriate authorities on account of any dispute. As informed to us, the company did not have any dues on account of Wealth tax and Excise duty. viii. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year. ix. In our opinion and according to the information and explanations given to us, as the company has not take any loan from bankers and financial institutions, this Clause is not applicable x. According to the information and explanations given to us the company has not given any guarantee for loans taken by others from banks or financial institutions. xi. In our opinion and according to the information and explanations given to us, the Company has not taken any term loans .Hence this clause is not applicable. xii. 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 audit. For C. RAMACHANDRAM & CO., Chartered accountants, FRN.002864S (Sd/-) C.RAMACHANDRAM Partner Membership No: 25834 Place: Hyderabad Date: 27/08/2015