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Capri Global Capital Ltd.

BSE: 531595 Sector: Financials
NSE: CGCL ISIN Code: INE180C01026
BSE LIVE 14:56 | 09 Dec 58.20 -0.80
(-1.36%)
OPEN

60.90

HIGH

61.75

LOW

58.20

NSE LIVE 15:31 | 09 Dec 57.75 -0.95
(-1.62%)
OPEN

59.40

HIGH

60.80

LOW

56.55

OPEN 60.90
PREVIOUS CLOSE 59.00
VOLUME 1921
52-Week high 81.40
52-Week low 22.22
P/E 30.00
Mkt Cap.(Rs cr) 1019.37
Buy Price 58.20
Buy Qty 430.00
Sell Price 60.00
Sell Qty 100.00
OPEN 60.90
CLOSE 59.00
VOLUME 1921
52-Week high 81.40
52-Week low 22.22
P/E 30.00
Mkt Cap.(Rs cr) 1019.37
Buy Price 58.20
Buy Qty 430.00
Sell Price 60.00
Sell Qty 100.00

Capri Global Capital Ltd. (CGCL) - Auditors Report

Company auditors report

TO THE MEMBERS OF

CAPRI GLOBAL CAPITAL LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of CAPRI GLOBALCAPITAL LIMITED (“the Company”) comprising of the Balance Sheet as at March 312016 the Statement of Profit and Loss the Cash Flow Statement for the year then endedand a summary of significant accounting policies and other explanatory.

Management's Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the preparation of thesestandalone financial statements in terms of requirements of the Companies Act 2013(hereinafter referred to as “the Act”) 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. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act and the Rules made thereunderincluding the accounting and auditing standards and matters which are required to beincluded in the audit report.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act and other authoritative pronouncements issued by the Instituteof Chartered Accountants of India. Those Standards and pronouncements require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the standalone financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone financial statements. The procedures selected depend onthe auditor’s judgment including the assessment of the risks of materialmisstatement of the standalone financial statements whether due to fraud or error. Inmaking those risk assessments the auditor considers internal financial control relevantto the Company’s preparation of the standalone financial statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by theCompany’s Directors as well as evaluating the overall presentation of the financialstatements.

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

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 March31 2016;

b) I n the case of the Statement of Profit and Loss of the Profit for the year endedon that date; and

c) In the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 (“theOrder”) issued by the Central Government of India in terms of Sub-section (11) ofSection 143 of the Companies Act 2013 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 in the Annexure-A a statement on the matters specifiedin paragraphs 3 and 4 of the 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 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 standalone financial statement 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 written representations received from the directors as on March 312016 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 Section164 (2) of the Act.

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 - B.

g) With respect to the other matters to be included in the Auditor’s Report inaccordance with the Rule 11 of the Companies (Audit and Auditors) Rules 2014 in ouropinion and to the best of our information and according to the explanations given to uswe report that:

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 InvestorsEducation and Protection Fund by the Company.

For and on behalf of
KARNAVAT & CO.
Chartered Accountants
Firm Regn No. 104863W
(Shashikant Gupta)
Camp: Gangtok Partner
Dated: April 23 2016 Membership No. 45629

Annexure - A to Independent Auditors’ Report

The Annexure referred to in paragraph 1 under the ‘Report on Other Legal andRegulatory Requirements' our report to the members of CAPRI GLOBAL CAPITAL LIMITED(‘the Company') for the year ended on March 31 2016. We report that:-

i. In respect of its fixed assets:

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

(b) The Company has a regular programme of physical verification of fixed assets whichis in our opinion reasonable having regard to the size of the Company and the nature ofits assets. In accordance with this programme certain fixed assets have been physicallyverified by the management during the year and no material discrepancies have been noticedon such verification.

(c) As per the information and explanation given to us by the management the Companydoes not own any immovable property. Accordingly the provisions of Clause 3(i)(c) of theOrder are not applicable to the Company.

ii. In respect of its inventories:

The inventory has been physically verified during the year by the management. In ouropinion the frequency of verification is reasonable. There were no material discrepanciesnoticed on physical verification of inventories as compared to the book records.

iii. The Company has not granted any loans secured or unsecured to Companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Act and hence provisions of Clause 3(iii) of the aforesaid Order arenot applicable to the Company.

iv. The Company has not granted any loans or made any investments or provided anyguarantee or security to the parties covered under Section 185 and 186 and henceprovisions of Clause 3(iv) of the aforesaid Order are not applicable to the Company.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits from the public within the meaning of Sections 73 7475 and 76 of the Act and the Rules framed thereunder to the extent notified.

vi. In our opinion and according to the information and explanations given to usmaintenance of cost records under sub-section (1) of the Section 148 of the Companies Act2013 has not been prescribed by the government.

vii. (a) According to the records of the Company the Company

is generally regular in depositing with appropriate authorities undisputed statutorydues including provident fund employees' state insurance income- tax sales tax wealthtax duty of customs duty of excise value added tax or cess and other statutory duesapplicable to it. No undisputed amounts payable in respect of provident fund employees'state insurance income-tax sales tax wealth tax duty of customs duty of excise valueadded tax or cess and other statutory dues were outstanding as at 31-032016 for a periodof more than six months from the date they became payable.

(b) According to the records of the Company and information and explanations given tous no dues of income tax sales tax wealth tax service tax duty of customs duty ofexcise value added tax or cess that have not been deposited on account of any disputes.

viii. Based on our audit procedures and according to the information and explanationsgiven to us by the management we are of the opinion that the Company has not defaulted inrepayment of dues to financial institutions and bank.

ix. The Company has not raised any money by way of initial public offer further publicoffer (including debt instruments) and term loans and hence provisions of Clause 3(ix) ofthe aforesaid Order are not applicable to the Company.

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 given 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 managerial remuneration in accordance with therequisite approvals mandated by the provision of the Section 197 read with Schedule V ofthe Act.

xii. The Company is not a Nidhi Company and the Nidhi Rules 2014 are not applicable tothe Company and hence provisions of Clause 3(xii) of the aforesaid Order are notapplicable to the Company.

xiii. The Company has entered into the transaction with the related parties incompliance with the provisions of the Section 177 and 188 of the Act. The details of suchrelated party transactions have been disclosed in the standalone financial statements asrequired under Accounting Standard (AS)18 Related Party Disclosures specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.

xiv. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review and henceprovisions of Clause 3(xiv) of the aforesaid Order are not applicable to the Company.

xv. The Company has not entered into any non-cash transactions with its directors orthe persons connected with him and hence provisions of Clause 3(xv) of the aforesaid Orderare not applicable to the Company.

xvi. The Company has obtained registration as required under Section 45-IA of theReserve Bank of India Act 1934.

For and on behalf of
KARNAVAT & CO.
Chartered Accountants
Firm Regn No. 104863W
(Shashikant Gupta)
Camp: Gangtok Partner
Dated: April 23 2016 Membership No. 45629

Annexure - B to Independent Auditors’ Report

The Annexure referred to in paragraph 2(f) under the ‘Report on Other Legal andRegulatory Requirements' our report to the members of CAPRI GLOBAL CAPITAL LIMITED(‘the Company') for the year ended on March 31 2016.

Report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section143 of the Act

We have audited internal financial controls over financial reporting of CAPRI GLOBALCAPITAL LIMITED (“the Company”) as of March 31 2016 in conjunction with ouraudit of the standalone financial statements of the Company for the year then ended onthat date.

Management's Responsibility for the 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 Guidance Note on Audit of Internal Financial Controls over Financial Reporting issuedby the Institute of Chartered Accountants of India (ICAI). These responsibilities includesdesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the orderly and efficient conduct of businessincluding adherence to Company’s policies the safeguarding of the assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

Auditor's Responsibility

Our responsibility is to express an opinion on 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’) and the Standards on Auditing deemed to be prescribedunder Section 143(10) of the Act to the extent applicable to an audit of internalfinancial controls both applicable to an audit of internal financial controls and bothissued by the ICAI. Those Standards and Guidance note require that we comply with ethicalrequirements and plan and perform audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedure 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 controls based on the assessed risk. Theprocedures selected depend on the auditor’s judgement including the assessment ofthe risks of material misstatement of the financial statements whether due to fraud orerror.

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.

Meaning of Internal Financial Controls over Financial Reporting

A Company’s internal financial control over financial reporting is a processdesigned to provide a reasonable assurance regarding the reliability of financialreporting and preparation of financial statements for external purpose in accordance withgenerally accepted accounting principles. A Company’s internal financial control overfinancial reporting includes those policies and procedures that:

1. Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the Company;

2. Provide reasonable assurance that the transactions are recorded as necessary topermit preparation of financial statements in accordance with the generally acceptedaccounting principles and that receipts and expenditures of the Company are being madeonly in accordance with authorisations of management and directors of the Company; and

3. Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the Company’s assets that could havea material 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 control 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 the Company has in all material aspects an adequate internalfinancial control system over financial reporting and such internal financial controlsover 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 internal control stated in Guidance Note on Audit of InternalFinancial Controls over Financial Reporting issued by the Institute of CharteredAccountants of India.

For and on behalf of
KARNAVAT & CO.
Chartered Accountants
Firm Regn No. 104863W
(Shashikant Gupta)
Camp: Gangtok Partner
Dated: April 23 2016 Membership No. 45629

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