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Betala Global Securities Ltd.

BSE: 531530 Sector: Financials
NSE: N.A. ISIN Code: INE658E01027
BSE 05:30 | 01 Jan Betala Global Securities Ltd
NSE 05:30 | 01 Jan Betala Global Securities Ltd

Betala Global Securities Ltd. (BETALAGLOBSEC) - Auditors Report

Company auditors report



We have audited the attached Balance Sheet of Betala Global Securities Limited whichcomprise the Balance Sheet as at 31st March 2014 the Statement of Profit and Loss andthe Cash Flow Statement for the year then ended and a summary of the significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give atrue and fair view of the financial position financial performance and cash flows of theCompany in accordance with the accounting Standards notified under the Companies Act'1956 ("the Act") read with the General Circular 15/2013 dated 13lhSeptember 2013 of the Ministry of Corporate Affairs in respect of section 133 of theCompanies Act 2013. This responsibility includes the design implementation andmaintenance of internal control relevant to the preparation and presentation of thefinancial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement. An auditinvolves performing procedures to obtain audit evidence about the amounts and thedisclosures 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 the internal control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the entity’s internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the Management as well as evaluating the overall presentation of thefinancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit 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 the state of affairs of the Company as at 31stMarch 2014; •

(b) in the case of the Statement of Profit and Loss of the loss of the Company for theyear ended on that date and

(c) in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2003("the Order")issued by the Central Government of India in terms of sub-section (4A) of section 227 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 4 and5 of the Order.

2. As required by Section 227(3) of the Act we report that:

(a) We have obtained all the information and explanations which to the best of ourknowledge 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 the Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

(d) in our opinion the Balance Sheet Statement of Profit and Loss and the Cash FlowStatement comply with the Accounting Standards referred to in sub-section (3C) of section211 of the Act.

(e) On the basis of the written representations received from the directors as on 31stMarch 2014 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2014 from being appointed as a director in terms of clause(g) of sub-section (1) of section 274 of the Act.


Chartered Accountants

FRN : 02957S



M. No. 023714

Place: Chennai

Date : 31.05.2014



In terms of the information and explanations given to us and the books and recordsexamined by us in the normal course of audit and to the best of our knowledge and beliefwe state that:

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

b) All the fixed assets have been physically verified by the management at reasonableintervals. No material discrepancies were noticed on verification made during the year.

c) The company has not disposed off substantial portion of the Fixed Assets during theyear.

2. The Company doesn't have any inventory and hence clause 4 (ii) of the Companies(Auditor’s Report) order 2003 is not applicable to the Company.


a) As informed to us the company has granted unsecured loans to company listed in theregister maintained under Section 301 of the Companies Act 1956.Loan given is to one partyand the amount involved is 54.50 Lacs.

b) The rate of interest and other terms and conditions of the loan given by the companyare prima facie prejudicial to the interest of the company

c) There are no stipulation as to the repayment of principal and interest henceclause 3(d) is not applicable.

e) Company has not taken any loans secured or unsecured from companies firms or otherparties listed in the register maintained under section.301 of the Companies Act 1956.Hence clause 3(f) & 3(g) are not applicable to the company

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. Accordingly the issue of continuing failure to correct major weaknessin internal control in these areas does not apply.


a) The particulars of contracts or arrangements that need to be entered in the registermaintained under Section 301 have been duly entered.

b) There are no transactions in respect of any party covered in the register to bemaintained . under section 301 of the Companies Act 1956 during the financial year underconsideration.

6. The company has not accepted any deposits from the public and hence the directivesissued by Reserve Bank of India and the provisions of Section 58A.58AA or any otherrelevant provisions of the Companies Act 1956 and the rules framed there under are notapplicable.

20. The Company has not raised any money from public during the year.

21. According to the information and explanations given to us by the management wereport that no fraud on or by the Company has been noticed or reported during the year.


Chartered Accountants

FRN : 02957S



M. No. 023714

Place : Chennai

Date : 31.05.2014