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Career Point Ltd.

BSE: 533260 Sector: Others
NSE: CAREERP ISIN Code: INE521J01018
BSE LIVE 15:40 | 07 Dec 115.30 -1.70
(-1.45%)
OPEN

115.30

HIGH

116.40

LOW

112.80

NSE LIVE 15:40 | 07 Dec 114.15 -2.90
(-2.48%)
OPEN

116.95

HIGH

116.95

LOW

113.30

OPEN 115.30
PREVIOUS CLOSE 117.00
VOLUME 1730
52-Week high 154.00
52-Week low 94.50
P/E 12.78
Mkt Cap.(Rs cr) 209.04
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 115.30
CLOSE 117.00
VOLUME 1730
52-Week high 154.00
52-Week low 94.50
P/E 12.78
Mkt Cap.(Rs cr) 209.04
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Career Point Ltd. (CAREERP) - Auditors Report

Company auditors report

To the Members of Career Point Limited

Report on the Audit of Standalone Financial Statements

We have audited the standalone financial statements of Career Point Limited (the'Company') which comprise the Balance Sheet as at 31st March 2016 and the Statement ofProfit and Loss and the Statement of Cash Flows for the year then ended and notes to thefinancial statements including a summary of significant accounting policies and otherexplanatory information.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder Section 143(10) of the Act. Our responsibilities under those Standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the Financial Statementssection of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion.

Responsibilities of Management

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Accounting Standards specified under Section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includesmaintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding of the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriate implementation andmaintenance of accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative to do so.

Those Board of Directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

Opinion

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 Companies Act 2013 (the 'Act') in the manner so required and give a true and fairview in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at 31'1 March 2016 and profit and its cash flows forthe year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 (the 'Order') issued bythe Central Government of India in terms of Section 143(11) of the Act we give in theAnnexure 'A' a Statement on the matters specified in paragraphs 3 and 4 of the Order tothe extent applicable.

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 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 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 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as 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 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:

(1) the Company has disclosed the impact of pending litigations on its financialposition in its financial statements- Refer Note18 to the financial statement;

(2) the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses; and

(3) there has been no delay in transferring amounts required to be transferred toInvestor Education and Protection Fund by the Company.

SHARP & TANNAN
Chartered Accountants
Firm's Registration No. 000452N
By the hand of
Pavan K. Aggarwal
Place: New Delhi Partner
Date: May 09 2016 Membership No. 91466

ANNEXURE `A' TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1 of our report of even date)

(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 in accordance with a phased programme of verification which in our opinion isreasonable considering the size of the Company and nature of its assets. The frequency ofphysical verification is reasonable and no material discrepancies were noticed on suchverification.

(c) According to the information and explanations given to us the title deeds ofimmovable properties are held in the name of the Company.

As explained to us inventories have been physically verified by the management duringthe year. In our opinion the frequency of such verification is reasonable. Thediscrepancies noticed on verification between the physical stocks and the book recordswhich were not material have been properly dealt with in the books of account.

(iii) According to the information and explanations given to us the Company hasgranted unsecured loans of Rs. 95.47 Cr (Previous Year Rs. 52.35 Cr) @ 9% tocompanies/other parties covered in the register maintained under Section 189 of the Act.The total unsecured loans outstanding as on 31st March 2016 amount to Rs. 59.94 Cr(Previous Year Rs.26.51 Cr). Further (a) the terms and conditions of the grant of suchloans are generally not prejudicial to the Company's interest. Cost of part borrowing ishigher by 1-2%; (b) the loan agreements stipulate repayment of Principal on demand andInterest payment on Quarter basis. The repayment of Principal and Interest are generallyregular.

(c) there are no amounts overdue for more than ninety days except Interest of Rs. 0.07Cr;

(iv) According to the information and explanations given to us the Company hascomplied with the provisions of Sections 185 and 186 of the Act in respect of loansinvestments guarantees and security.

(v) According to the information and explanations given to us the Company has notaccepted any deposits from the public and accordingly Paragraph 3 (v) of the Order is notapplicable to the Company.

(vi) According to the information and explanations given to us the Company has notbeen prescribed maintenance of cost records by the Central Government under section 148(1)of the Act and accordingly Paragraph 3 (vi) of the Order is not applicable to theCompany.

(vii) (a) According to the information and explanations given to us the Company isregular in depositing undisputed statutory dues including provident fund employees' stateinsurance income tax sales tax service tax duty of customs duty of excise valueadded tax cess and any other statutory dues where applicable to the appropriateauthorities. According to the information and explanations given to us there are noarrears of outstanding statutory dues except wealth tax amounting to Rs. 0.11 Cr as at thelast day of the financial year for a period of more than six months from the date theybecame payable.

(b) According to the information and explanations given to us and the records examinedby us the particulars of income tax sales tax service tax duty of customs duty ofexcise and value added tax as at 31st March 2016 which have not been deposited onaccount of a dispute pending are as under:

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