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Capital Trust Ltd.

BSE: 511505 Sector: Financials
NSE: N.A. ISIN Code: INE707C01018
BSE LIVE 15:40 | 05 Dec 386.60 -17.05
(-4.22%)
OPEN

396.05

HIGH

404.90

LOW

376.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 396.05
PREVIOUS CLOSE 403.65
VOLUME 7109
52-Week high 655.00
52-Week low 160.10
P/E 17.51
Mkt Cap.(Rs cr) 572.55
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 396.05
CLOSE 403.65
VOLUME 7109
52-Week high 655.00
52-Week low 160.10
P/E 17.51
Mkt Cap.(Rs cr) 572.55
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Capital Trust Ltd. (CAPITALTRUST) - Auditors Report

Company auditors report

TO THE MEMBERS OF CAPITAL TRUST LIMITED

Report on the Standalone facial Statements

1. We have audited the accompanying standalone financial statements of Capital TrustLimited ("the Company") which comprise the Balance Sheet as at March 31 2016the Statement 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 Standalone facial Statements

2. The Company’s Board of Directors is responsible for the matters stated inSection 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014 and Accounting Standard 30 facial Instruments: Recognition and measurementissued by the Institute of Chartered Accountants of India to the extent it does notcontradict any other accounting standard referred to in section 133 of the Act read withRule 7 of Companies (Accounts) Rules 2014. This responsibility also includes maintenanceof adequate accounting records in accordance with the provisions of the Act forsafeguarding the assets of the Company and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditor’s Responsibility

3. Our responsibility is to express an opinion on these Standalone facial statementsbased on our audit.

4. 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.

5. 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.

6. An audit involves performing procedures to obtain audit evidence about the amountsand the disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of the accounting estimates made by the Company’s Directors aswell as evaluating the overall presentation of the financial statements.

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

Opinion

8. In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at March 31 2016 and its profit/loss and its cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

9. As required by the "Companies (Auditor’s Report) Order 2016" issuedby the Central Government of India in terms of sub-section 143 of the Act (hereinafterreferred to as the "Order") and on the basis of such checks of the books andrecords of the Company as we considered appropriate and according to the information andexplanations given to us we give the Annexure B a statement on the matters specified inparagraphs 3 and 4 of the Order.

10. 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 & Loss and the Cash Flow Statementsdealt with by this Report are in the agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on March31 2016 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2016 from being appointed as a director in terms of Section 164 (2) of theAct.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the company and operating effectiveness of such controls refer to ourseparate report in Annexure A.

(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 the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition.

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

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For SGR & Associates
Chartered Accountants
FRN-022767N
Rajesh Arora
Date: April 26 2016 (Partner)
Place: New Delhi M.No.-076575

Annexure A to Independent Auditors’ Report

Referred to in paragraph 10(f) of the Independent Auditors’ Report of even date tothe members of Capital Trust Limited on the standalone financial statements for the yearended March 31 2016

Report on the Internal facial Controls under Clause (i) of sub- section 3 of Section143 of the Act

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

Management’s Responsibility for the Internal facial Controls

2. The Company’s management is responsible for establishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential components of internalcontrols stated in the Guidance note on Audit of Internal facial Controls Over facialReporting issued by the Institute of Chartered Accountants of India (ICAI). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company’s policies the safeguardingof its assets the prevention and deduction of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Act.

Referred to in paragraph 10(f) of the Independent Auditors’ Report of even date tothe members of Capital Trust Limited on the standalone financial statements for the yearended March 31 2016

Auditors’ Responsibilities

3. Our responsibility is to express an opinion on the Company’s internal financecontrols over financial reporting based on our audit. We conduct our audit in accordancewith the Guidance Note on Audit of Internal facial Controls Over facial Reporting(the" Guidance Note") and the standard on auditing deemed to be prescribed undersection 143(10) of the Act to the extent applicable to an audit of internal financialcontrols both applicable to an audit of internal financial controls and both issued byICAI. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the 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 material weakness exists and testing and evaluating the designand operating the effectiveness of internal controls based on the assessed risk. Theprocedures selected depend on the auditor’s judgement including the assessment ofthe risks of material misstatements of the financial statements whether due to fraud orerror.

5. 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 controlssystem over financial reporting.

Referred to in paragraph 10(f) of the Independent Auditors’ Report of even date tothe members of Capital Trust Limited on the standalone financial statements for the yearended March 31 2016

Meaning of Internal facial Controls Over facial Reporting

6. A Company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the presentation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A Company’s internal financial controlsover financial reporting includes those policies and procedures that (1) pertain tomaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the Company are being made only in accordance with authorisations ofmanagement and directors of the Company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of theCompany’s assets that could have a material effect on the financial statements.

7. 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 deducted.Also projections of any evaluation of the internal controls over financial reporting maybecome inadequate because of changes in conditions or that the degree of compliance withthe policies or procedures may deteriorate.

Referred to in paragraph 10(f) of the Independent Auditors’ Report of even date tothe members of Capital Trust Limited on the standalone financial statements for the yearended March 31 2016

Opinion

8. In our Opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover the financial reporting were operating effectively as at March 31 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of the internal control stated in the Guidance Note o Audit ofInternal office controls Over facial Reporting issued by the Institute of CharteredAccountants of India.

For SGR & Associates
Chartered Accountants
FRN-022767N
Rajesh Arora
Date: April 26 2016 (Partner)
Place: New Delhi M.No.-076575

Annexure B to Independent Auditors’ report

Referred to in paragraph 9 of the Independent Auditor’s report of the even date tothe members of Capital trust Limited on the standalone financial statements as of and forthe year ended March 31 2016 :-

(i) (a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) As explained to us these fixed assets have been physically verified by theManagement at reasonable intervals during the year. No material discrepancies were noticedon such verification.

(c) The Company does not hold any immovable property in his name. Therefore paragraph3 (i) (c) of the order is not applicable.

(ii) The company is a Non- Banking facial Company (NBFC) primarily providing servicesin facial Sector. Accordingly it does not hold any physical inventory. Thus paragraph3(ii) of the order is not applicable.

(iii) According to the information and explanations given to us and on the basis of ourexamination of the books of account the Company has not granted any loans secured orunsecured to companies firms Limited Liability Partnerships or other parties covered inthe register maintained under section 189 of the Companies Act 2013. Therefore theprovisions of clauses 3 (iii) (a) and (iii) (b) and (iii) (C) of the said order are notapplicable to the Company.

(iv) In our opinion and according to the information and explanation given to us theCompany has complied with the provisions of section 185 and 186 of the Companies Act 2013in respect of loans and investments made and guarantees or security provided by it.

(v) The Company has not accepted any deposits from the public within the meaning ofsections 7374 75 and 76 of the Act and the Rules framed there under to the extentnotified.

(vi) As per information & explanation given to us the reporting requirements withregard to maintenance of cost records by the company as prescribed under section148(1) ofthe Companies Act 2013 are not applicable for any of the services rendered by theCompany.

(vii) (a) According to information and explanation given to us and the records of theCompany examined by us in our opinion the Company is regular in depositing undisputedstatutory dues including provident fund employees’ state insurance income-taxsales-tax service tax duty of customs duty of excise value added tax cess and anyother statutory dues to the appropriate authorities.

(b) According to information and explanation given to us and the records of the Companyexamined by us there are no dues of income tax or sales tax or service tax or duty ofcustoms or duty of excise or value added tax have not been deposited on account of anydispute.

(viii) According to the records of the Company examined by us and the information andexplanation given to us the Company has not defaulted in repayment of loans or borrowingto a financial institution and bank. The Company does not have any loans from Government.Further the Company has not issued any debentures.

(ix) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments). The Term loans availed by the Company were dulyapplied for the purposes for which those are raised.

(x) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations to us we have neither come across anyinstance of material fraud by the Company or on the Company by its Officers or employeesnoticed or reported during the year nor have we been informed of any such case by themanagement.

(xi) The Company has paid/provided for managerial remuneration in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act.

(xii) As the Company is not a Nidhi Company and the Nidhi Rules 2014 are notapplicable to it the provision of Clause 3 (xii) of the order are not applicable to theCompany.

(xiii) The Company has entered into transactions with related parties in compliancewith sections 177 and 188 of the Act. The details of such related party transactions havebeen disclosed in the financial statements as required under Accounting standard (AS) -18related Party Disclosures specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(xiv) During the financial year under review the Company has made followingpreferential or private placement of Equity shares as per details below complying with therequirements of section 42 of the Companies Act 2013 and the amount raised have been usedfor the purposes for which the funds were raised.

No. of Equity Shares Name of Share holders Face Value per Share Issue price per share Premium per share Total amount of Shares
2825000 Light House Emerging India Investor Limited ` 10/- ` 217/- ` 207/- 613025000
125000 Emkay Fincap Limited ` 10/- ` 217/- ` 207/- 27125000
125000 Seven Hills Capital ` 10/- ` 217/- ` 207/- 27125000
4092500 Mr. Yogen Khosla ` 10/- ` 117/- ` 107/- 478822500

(xv) The company has not entered into any non-cash transactions with directors orpersons connected with him. Accordingly the provisions of Clause 3(xv) of the Order arenot applicable to the Company.

(xvi) The Company is registered under section 45-IA of the Reserve Bank of India Act1934 and the relevant registration has been duly obtained by it.

For SGR & Associates
Chartered Accountants
FRN-022767N
Rajesh Arora
Date: April 26 2016 (Partner)
Place: New Delhi M.No.-076575

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