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Autoriders Finance Ltd.

BSE: 500030 Sector: Financials
NSE: AUTORIDFIN ISIN Code: INE450A01019
BSE LIVE 11:31 | 06 Nov Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.53
PREVIOUS CLOSE 0.53
VOLUME 200
52-Week high 1.48
52-Week low 0.53
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.53
CLOSE 0.53
VOLUME 200
52-Week high 1.48
52-Week low 0.53
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Autoriders Finance Ltd. (AUTORIDFIN) - Auditors Report

Company auditors report

To the Members of

Autoriders Finance Limited

Report on the Financial Statements

We have audited the accompanying financial statements of AUTORIDERS FINANCE LIMITED("the company") which comprises Balance Sheet as at 31st March 2017 theStatement of Profit and Loss Account and Cash Flow Statement for the year ended 31stMarch 2017 and a summary of significant accounting policies and other explanatoryinformation.

Managements’ 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 presentation ofthese financial statements that give a true and fair view of the financial position andfinancial 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 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 accounting recordsrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material misstatement whether due to fraud or error.

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 there under.

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 performingprocedures to obtain audit evidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company's preparation of the financial statements thatgive a true and fair view in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on whether the company hasin place adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. An audit also includes evaluating theappropriateness of 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.

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 : (a) In the case of the Balance Sheet of thestate of affairs of the Company as at 31st March 2017 (b) In the case of the Profit andLoss Account of the Loss for the year ended on that date.

(c) 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) order 2016 ("The Order")issued by the Central Government of India in terms of sub section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in the paragraphs 3and 4 of the Order to the extent applicable.

2. As required by Section 143(3) of the Act we report that :

a. We have obtained all the information and explanations which to the best ourknowledge and belief were necessary for the purpose of audit.

b. In our opinion proper books of accounts as required by law have been kept by theCompany so far as appears from our examination of those books.

c. The Balance Sheet Statement of Profit and Loss and the Cash Flows Statement dealtwith by this Report are in agreement with the books of accounts.

d. In our opinion the aforesaid financial statements comply with the accountingstandards referred to in the Section 133 of the Companies Act 2013 and read with Rule No7 of the Companies (Accounts) Rules 2014.

e. On the basis of representations received from the directors as on Mar 31 2017 andtaken on record by the Board of Directors none of the directors is disqualified as on Mar312017 from being appointed as a director in terms of Section 164(2) of the Act.

f. As the Company is neither a going concern nor engaged in any business activityduring the year it has not established its internal financial control over financialreporting on criteria based on or considering the essential components of internal controlstated in the Guidance Note on Audit of

Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India. Because of this reason we are unable to obtain sufficientappropriate audit evidence to provide a basis for our opinion whether the Company hadadequate internal financial controls over financial reporting and whether such internalfinancial controls were operating effectively as at March 31 2017.

g. There are no details to be reported for the other matters to be included in theAuditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014.

For SHETH DOCTOR & ASSOCIATES
Chartered Accountants
(Firm Regn No. 124822W)
PARESH S. DOCTOR
Mumbai Proprietor
Date : 29th May 2017. Membership No. 36056

ANNEXURE TO THE AUDITORS’ REPORT

(REFERRED TO IN THE REPORT OF EVEN DATE OF THE AUDITORS

TO THE MEMBERS OF AUTORIDERS FINANCE LIMITED ON THE

ACCOUNTS FOR THE PERIOD ENDED 31ST MARCH 2017)

i. The company is not having any fixed assets. Accordingly the Paragraph (i) (a)(b)and (c) of the Order is not applicable. ii. The Company being a service company it doesnot have any inventories. Accordingly Paragraph (ii) (a) and (b) of the Order is notapplicable. iii. According to the information and explanations given to us the Companyhas not granted any loans secured or unsecured to Companies firms limited liabilitypartnerships or other parties covered in the Register maintained under Section 189 of theCompanies Act 2013 ('the Act").

Accordingly paragraphs 3(iii)(a) and (b) of the Order are not applicable to theCompany. iv. In our opinion and according to the information and explanations given to usthe Company has not granted any loans or made any investments or provided any guaranteesor security to the parties covered under Section 185 of the Act. Accordingly theparagraph 3(iv) of the Order is not applicable to the Company.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public within the meaning of provisions ofsections 73 to 76 and the rules framed there under. Accordingly paragraph 3(v) of theOrder is not applicable to the Company. vi. As the company is not engaged into anyproduction activity the provisions of maintenance of cost records U/s 148 (1) of the Actare not applicable to it. vii. a) As the company has not carried out any activity duringthe year it has not incurred any liability in respect of statutory dues includingProvident Fund Investor Education and Protection Fund Employee’s State Insuranceincome tax sales tax service tax value added tax Custom Duty Excise Duty Cess andother statutory dues. Accordingly Paragraph (vii) (a) of the Order is not applicable tothe company. b) On the basis of our examination of the documents and records there are nodisputed statutory due which remains to be deposited with the appropriate authorities.viii. The Company does not have any loans or borrowings from banks financial institutionsor government or dues to debenture holders during the year. Accordingly Paragraph (viii)of the Order is not applicable to the Company. ix. According to the information andexplanations given to us and on the basis of examination of the records the Company theCompany has not raised any moneys by way of initial public offers (including debtinstruments) and has not obtained any term loans during the year. Accordingly Paragraph3(ix) of the Order is not applicable to the Company. x. During the course of ourexamination of the books and records of the Company carried out in the accordance withthe generally accepted audit practices in India and according to the information andexplanations given to us we have neither come across any instance of material fraud bythe Company or on the Company by its officers or employees noticed or reported during theyear nor have we been informed of any such case by the management. xi. The company hasnot incurred any expenditure on managerial remuneration during the year.

Accordingly Paragraph 3(xi) of the Order is not applicable to the Company. xii. In ouropinion and according to the information and explanations given to us The Company is nota Nidhi Company and the in Nidhi Rules 2014 are not applicable to it. AccordinglyParagraph 3(xii) of the Order is not applicable to the Company. xiii. In our opinion andaccording to the information and explanations given to us the Company has not enteredinto transactions with related parties in compliance with the provisions of Sections 177and 188 of the Act where applicable and the details of such related party relationshipshave been disclosed in the financial statements as required by Accounting Standard (AS)18 Related Party Disclosures specified under Section 133 of the Act read with Rule 7 ofthe Companies (Accounts) Rules 2014. xiv. According to the information and explanationsgiven to us and on the based on examination of the records of the Company the company hasnot made any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year. Accordingly Paragraph 3(xiv) of the Order is notapplicable to the Company. xv. According to the information and explanations given to usand on the based on examination of the records of the Company the company has not enteredinto non cash transactions with directors or persons connected with them. AccordinglyParagraph 3(xv) of the Order is not applicable to the Company. xvi. In our opinion andaccording to the explanations given to us the Company is not required to be registeredunder section 45-IA of the Reserve Bank of India Act 1934.Accordingly Paragraph 3(xvi) ofthe Order is not applicable to the Company.

For SHETH DOCTOR & ASSOCIATES
Chartered Accountants
(Firm Regn No. 124822W)
Mumbai PARESH S. DOCTOR
Date : 29th May 2017. Proprietor