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Arihants Securities Ltd.

BSE: 531017 Sector: Financials
NSE: N.A. ISIN Code: INE190D01015
BSE LIVE 15:25 | 24 Oct Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.32
PREVIOUS CLOSE 6.65
VOLUME 110
52-Week high 7.68
52-Week low 6.32
P/E 158.00
Mkt Cap.(Rs cr) 3.16
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.32
Sell Qty 90.00
OPEN 6.32
CLOSE 6.65
VOLUME 110
52-Week high 7.68
52-Week low 6.32
P/E 158.00
Mkt Cap.(Rs cr) 3.16
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.32
Sell Qty 90.00

Arihants Securities Ltd. (ARIHANTSSEC) - Auditors Report

Company auditors report

TO THE SHAREHOLDERS OF ARIHANT'S SECURITIES LIMITED

We have audited the accompanying financial statements of M/s. Arihant's SecuritiesLimited ("the Company") which comprise the Balance Sheet as at 31st March 2015the Statement of Profit and Loss Cash Flow Statement for the year then ended and asummary 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) ofthe Companies Act 2013 ("the Act") with respect to the preparation of thesenancial statements that give a true and fair view of the nancial position nancialperformance and cash ows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards speci ed under Section 133of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. This responsibilityalso includes the maintenance of adequate accounting records in accordance with theprovision of the Act for safeguarding of the assets of the Company and for preventing anddetecting the frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of internal nancial control that were operating eectively for ensuring the accuracy and completeness of the accounting records relevant tothe preparation and presentation of the nancial statements that give a true and fair viewand are free from material misstatement whether due fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these nancial 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 there under.

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

An audit involves performing procedure 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 control relevant to the Company's preparation and fair presentation ofthe financial statements in order design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness accounting policiesused and the reasonableness of the accounting estimates made by management as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

i. in the case of the Balance Sheet of the state of affairs of the Company as at 31March 2015;

ii. in the case of the Statement of Profit and Loss of the Profit for the year endedon that date; and

iii. in the case of the Cash Flow Statement of the cash flows for the year ended onthat date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order2015 ("the Order")issued by the Central Government of India terms of sub-section (11) of section 143 of theAct we give in the annexure a statement on the matters specified paragraphs 3 and 4 ofthe 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 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this report are agreement with the books of account.

d. In our opinion the aforesaid nancial statements comply with the AccountingStandards speci ed under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e. On the basis of written representations received from the directors as on 31 March2015 taken onrecord by the Board of Directors none of the directors is disquali ed as on31 March 2015 from being appointed as a director terms of Section 164(2) of the Act.

f. With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditor's) Rules2014 and to the best of ourinformation and according to the explanations given to us:

For N.R. KRISHNAMOORTHY & CO.
I Chartered Accountants
FRN : 001492S.
Sd/-
N.R. KRISHNAMOORTHY
Place: Chennai Partner
Date: 30.05.2015 Membership No. : 020638

ANNEXURE TO INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 7 of our report of even date under the caption "Reporton Other Legal and Regulatory Requirements)

The Annexure referred to in our report to the members of Arihant Securities Limited("the Company") for the year ended

31st March 2015. We report that:

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

. (b) As explained to us fixed assets have been physically verified by the managementat reasonable intervals; no material discrepancies were noticed on such verification.

2. (a) As explained to us inventories have been physically verified during the year bythe management at reasonable intervals.

. (b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

. (c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories (shares). No material discrepancywas noticed on physical verification of stocks by the management as compared to bookrecords

3. The Company has not granted any loans secured or unsecured to/from companiesfirms or other parties covered in the register maintained under section 189 of the act.

4. In our opinion and according to the information and explanations given to us thereis generally an adequate internal control procedure commensurate with the size of thecompany and the nature of its business for the purchase of inventories & fixed assetsand payment for expenses & for sale of goods. During the course of our audit no majorinstance of continuing failure to correct any weaknesses in the internal controls has beennoticed.

5. The Company has not accepted any deposits from the public covered under section 73to 76 of the Companies Act 2013.

6. As informed to us the Central government has prescribed maintenance of cost recordsunder sub-section (1) of section 148 of the Act and such Accounts & Records have beenmade and maintained.

7. (a) Accordingto the information and explanations given to us and on the basis of ourexamination of the books of account the Company is regular in depositing with appropriateauthorities undisputed statutory dues including Provident Fund Tax deducted at sourceExcise Duty Customs Duty Employees State Insurance Fund Cess and other materialstatutory dues applicable to it. According to the information and explanations given tous no undisputed

amounts payable in respect of above were in arrears as at 31st March 2015 for a periodof more than six months from the date they became payable.

7. (b) According to the information and explanations given to us there are no dues ofProvident Fund Tax deducted at source Excise Duty Service Tax Customs Duty EmployeesState Insurance Fund and Cess which have not been deposited with appropriate authoritieson account of any dispute.

8. The Company does not have any accumulated loss and has not incurred cash loss duringthe financial year covered by our audit and in the immediately preceding financial year.

9. Based on our audit procedures and on the information and explanations given by themanagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution bank or debenture holders.

10. According to the information and explanations given to us the Company has notgranted loans and advances on the basis of security by way of pledge of shares debenturesand other securities.

11. According to the information and explanations given to us the Company has notgiven any guarantees for loans taken by others from banks and financial institutions.

12. The Company has not taken any Term Loan during the year. Hence the provision ofclause 3 (xi) of the Order is not applicable to the Company.

13. Based on the audit procedures performed and the information and explanations givento us and during the course of our examination of the books and records of the company wereport that no fraud on or by the Company has been noticed or reported during the yearnor have we been informed of such case by the management

For N.R. KRISHNAMOORTHY & CO.
Chartered Accountants
I FRN : 001492S.
Sd/-
N.R. KRISHNAMOORTHY
Place: Chennai Partner
Date: 30.05.2015 Membership No. : 020638

To

The Board of Directors

Arihant 's Securities Ltd

1. We have audited the accompanying financial statements of M/s. Arihant's SecuritiesLimited ("the Company") which comprise the Balance Sheet as at 31st March 2015the Statement of Profit and Loss Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information and issuedour Audit opinion dated 30th May 2015 thereon. These financial statements are theresponsibility of the Company's Management. Our responsibility is to express an opinion onthese financial statements based on our audit. Our Audit was conducted in the mannerspecified in paragraph 2 of the Audit Report.

2. As required by the "Non-Banking Financial Companies Auditor's Report (ReserveBank) Directions 2008" issued by the Reserve Bank of India ("the Bank" orRBI) and amended from time to time ("the Directions") and based on our auditreferred to in paragraph 1 above and based on the information and explanations given to uswhich to the best of our knowledge and belief were necessary for this purpose we reporthereunder on the matters specified in paragraph 3 of the Directions:

a. The Company is engaged in the business of Non-Banking Financial Institution ('NBFI')as defined in section 45-I(a) of the Reserve Bank of India Act 1934 ('the Act') duringthe year ended 31 March 2015and it has obtained Certificate of Registration No. :07.00211 dated 1 April 1998 from Reserve Bank of India;

b. Based on the asset/income pattern as on March 31 2015 determined by the Managementin accordance with the audited financial statements for the year ended as on that dateand with reference to paragraph 15 of the Non-Banking Financial (Non-Deposit Accepting orHolding) Companies Prudential Norms (Reserve Bank) Directions 2007 the Company isentitled to continue to hold such Certificate of Registration;

c. Based on the criteria set forth by the Bank in Circular No. DNBS.PD. CC No. 85 /03.02.089 /2006-07 dated December 6 2006 for classification of NBFCs the Company hasbeen correctly classified as Investment Companyas defined in Non-Banking FinancialCompanies Acceptance of Public Deposits (Reserve Bank) Directions 1998 with reference tothe business carried on by it during the financial year ended March 31 2015;

d. The Board of Directors in their meeting held on April 1 2014 has passed aresolution for non- acceptance of any public deposits without prior approval of ReserveBank of India in writing.

e. The Company has not accepted any public deposits during the year ended March 312015;

f. The a. Company has complied with the prudential norms relating to incomerecognition accounting standards asset classification and provisioning for bad anddoubtful debts as applicable to it in terms of Non-Banking Financial (Non-DepositAccepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 for theyear ended March 31 2015;

For N.R. KRISHNAMOORTHY & CO.
Chartered Accountants
Sd/-
N.R. KRISHNAMOORTHY
Place : Chennai Partner
Date : 30.05.2015 Membership No. : 020638
FRN : 001492S

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