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A Infrastructure Ltd.

BSE: 539620 Sector: Industrials
NSE: N.A. ISIN Code: INE534E01012
BSE LIVE 09:37 | 27 Jul 40.50 1.85
(4.79%)
OPEN

40.50

HIGH

40.50

LOW

40.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 40.50
PREVIOUS CLOSE 38.65
VOLUME 50
52-Week high 47.30
52-Week low 17.00
P/E 122.73
Mkt Cap.(Rs cr) 43
Buy Price 0.00
Buy Qty 0.00
Sell Price 40.55
Sell Qty 150.00
OPEN 40.50
CLOSE 38.65
VOLUME 50
52-Week high 47.30
52-Week low 17.00
P/E 122.73
Mkt Cap.(Rs cr) 43
Buy Price 0.00
Buy Qty 0.00
Sell Price 40.55
Sell Qty 150.00

A Infrastructure Ltd. (AINFRASTRUCTURE) - Auditors Report

Company auditors report

TO THE MEMBERS OF A Infrastructure Limited Report on the Financial Statements

We have audited the accompanying financial statements of A Infrastructure Limited ("theCompany") which comprise the Balance Sheet as at 31stMarch 2016 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of the 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 Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder and the Order under section 143(11) ofthe Act.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10)of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide 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 explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31stMarch2016 and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. 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 bestof 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 theCompany 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 Statementdealt with by this report are in agreement with the books of account.

d. In our opinion the aforesaid financial statements comply with the accountingstandards referred to in section 133 of the Companies Act 2013 read with rule 7 of theCompanies (Accounts) Rules 2014.

e. On the basis of written representation received from the directors as on 31stMarch2016 and taken on record by the Board of Directors none of the directors is disqualifiedas on 31st March 2016 from being appointed as a director in terms of sub section (2) ofsection 164 of the Companies Act 2013.

f. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in 'Annexure A'. Our report expresses an unmodified opinion on theadequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

g. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to best of our information and according to the explanation given to us:

i The company has disclosed the impact of pending litigation as at 31stMarch 2016 on its financial position in its financial statement-Refer Note 32 ofFinancial Statements.

ii The company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii There has been no delay in transferring amounts required to be transferred to theinvestor's education and protection fund by the company.

2. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of sub section (11) of section 143 of the Act (hereinafterreferred to as the "Order") we give in "Annexure B" a statement onthe matters specified in paragraphs 3 and 4 of the Order to the extent applicable.

For Agiwal & Associates
Chartered Accountants
Firm Registration No. 000181N
Sd/-
P.C. Agiwal
Place : New Delhi Partner
Date : 30th May 2016 Membership No. 080475

ANNEXURE ’A’ TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1(f) under 'Report on Other Legal and RegulatoryRequirements' of our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 (’the Act’)

We have audited the internal financial controls over financial reporting of AInfrastructure Limited (the Company) as of 31 March 2016 in conjunction with our audit ofthe financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditor’s Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the 'Guidance Note') issued by the Institute of Chartered Accountants of India and theStandards on Auditing prescribed under Section-143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are

being made only in accordance with authorizations of management and directors of thecompany; and (3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at 31 March 2016 based on the internal controlover financial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls Over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For Agiwal & Associates
Chartered Accountants
Firm Registration No. 000181N
Sd/-
P.C. Agiwal
Place : New Delhi Partner
Date : 30th May 2016 Membership No. 080475

ANNEXURE B TO THE INDEPENDENT AUDITORS’ REPORT

Re: A Infrastructure Limited

(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements'section of our report of even date)

(i) In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b) The fixed assets were physically verified during the year by the Management inaccordance with a regular programme of verification which in our opinion provides forphysical verification of all the fixed assets at reasonable intervals. According to theinformation and explanations given to us no material discrepancies were noticed on suchverification.

c) According to the information and explanations given to us and the records examinedby us and based on the examination of the registered sale deed / transfer deed /conveyance deed provided to us we report that the title deeds comprising all theimmovable properties of buildings which are freehold are held in the name of the Companyas at the Balance Sheet date. In respect of immovable properties of land that have beentaken on lease and disclosed as fixed asset in the financial statements the leaseagreements are in the name of the Company where the Company is the lessee in theagreement.

(ii) As explained to us inventories were physically verified during the year by themanagement at reasonable intervals except for inventories lying with third parties whereconfirmations of inventories held by such third parties have been received and no materialdiscrepancies were noticed on physical verification.

(iii) The Company has granted loans secured or unsecured to companies firms LimitedLiability Partnerships or other parties covered in the Register maintained under Section189 of the Companies Act 2013. In our opinion the terms and conditions for the said loanis not prejudicial to the companies interest. Schedule of repayment of principal andpayment of interest is stipulated.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of Sections 185 and 186 of the Companies Act2013 in respect of making investments as applicable.

(v) According to the information and explanations given to us the Company has notaccepted any deposit during the year. Therefore the provision of clause (v) of the Orderis not applicable.

vi) According to the information and explanations given to us in our opinion theCompany has prima facie made and maintained the prescribed cost records pursuant to theCompanies (Cost Records and Audit) Rules 2014 as amended and prescribed by the CentralGovernment under subsection (1) of Section 148 of the Companies Act 2013. We havehowever not made a detailed examination of the cost records with a view to determinewhether they are accurate or complete.

(vii) According to the information and explanations given to us in respect of statutorydues:

(a) The Company has generally been regular in depositing undisputed statutory duesincluding Provident fund Employees' State Insurance Income-tax Sales tax Service TaxCustoms duty Excise duty Value Added Tax cess and any other material statutory duesapplicable to it with the appropriate authorities.

(b) There were no undisputed amounts payable in respect of Provident fund Employees'State Insurance Income tax Sales-tax Service Tax Customs duty Excise duty ValueAdded Tax cess and any other material statutory dues in arrears as at 31 March 2016 fora period of more than six months from the date they became payable.

(c) Details of dues of Income Tax Sales Tax Customs Duty and Excise Duty which havenot been

deposited as on 31 March 2016 on account of disputes. (Refer Annexure C)

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in the repayment of loans or borrowings to financialinstitutions banks and government. The Company has not issued any debentures.

(ix) In our opinion and according to the information and explanations given to us theterm loans have been applied by the Company for the purposes for which they were raised.The Company has not raised monies by way of initial public offer or further public offer(including debt instruments).

(x) To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company by its officersor employees has been noticed or reported during the year.

(xi) In our opinion and according to the information and explanations given to us theCompany has paid managerial remuneration in accordance with the requisite approvalsmandated by the provisions of section 197 read with Schedule V to the Companies Act 2013.

(xii) The Company is not a Nidhi Company and hence reporting under clause (xii) of theOrder is not applicable.

(xiii In our opinion and according to the information and explanations given to us theCompany is in compliance with

Section 188 and 177of the Companies Act 2013 where applicable for all transactionswith the related parties and the details of related party transactions have been disclosedin the financial statements etc. as required by the applicable accounting standards.

(xiv) During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures and hence reporting underclause (xiv) of the Order is not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to usduring the year the Company has not entered into any non-cash transactions with itsdirectors or persons connected with him and hence provisions of section 192 of theCompanies Act 2013 are not applicable.

(xvi) The Company is not required to be registered under section 45-I of the ReserveBank of India Act 1934.

For Agiwal & Associates
Chartered Accountants
Firm Registration No. 000181N
Sd/-
P.C. Agiwal
Place : New Delhi Partner
Date : 30th May 2016 Membership No. 080475

ANNEXURE-C

Nature of Dues Amount Period to which the amount relates Authority where the dispute is pending
Excise Duty 1102.00 Dec.03 to Mar 06 CESTAT New Delhi
Excise Duty 20.20 2001-02 Rajasthan High Court Jodhpur
Excise duty 6.23 Jan 12 - Sep 12 Commissioner Appeals - Jaipur
Excise duty 14.41 Apr 13 - Dec 13 Commissioner Appeals - Jaipur
Excise duty 26.26 Jan 14 - Sep 14 Commissioner Appeals - Jaipur
Excise duty 4.12 Oct 14 - Mar 15 Commissioner Appeals - Jaipur
Excise duty 5.63 2013-14 Commissioner Appeals - Jaipur
Service Tax 264.64 2013-14 CESTAT New Delhi
Excise duty 13.93 May 08 - Oct 09 CESTAT New Delhi
Excise duty 9.48 Nov09- Feb 11 CESTAT - New Delhi
Income Tax (TCS) 2.18 2009-10 to 2014-15 Asstt. comm. of income tax Udaipur
Service Tax 134.95 2013-14 Commissioner C.E. Ahemdabad-II
F.No. V-24/15-129/oa/2013
Works Contract Tax 34.60 2004-05 Gujrat VAT Tribunal Ahmedabad
Works Contract Tax 95.28 2005-06 Gujrat VAT Tribunal Ahmedabad
Total 1733.91

*Net of tax deposited including the payment which will be made before filling of thereturn of income.